Insight Category: Reports
Introduction Securitisation and receivables sale/purchase agreements (such as discounting and factoring) are effective methods of financing used by entities to monetise their business receivables. In these transactions, a business entity that generates receivables through commercial operations sells the receivables for immediate cash consideration. The most important component of such transactions is achieving a ‘true sale’… Continue reading True Sale under UAE Law...
At the outset, it may be useful to note that the laws applied in each of the onshore jurisdictions outlined above, i.e. Abu Dhabi and Dubai, the Dubai International Financial Centre (“DIFC”) and the Abu Dhabi Global Markets (“ADGM”) are largely based on the UNICITRAL Model Law, aligning the UAE’s arbitral framework with international standards,… Continue reading Comparative Guide on Onshore vs Offshore Arbitration Seats in the UAE...
Direct Distribution 1.May a foreign supplier establish its own entity to import and distribute its products in your jurisdiction? A foreign supplier seeking to import and distribute its products in the UAE may do so either by: • entering into a commercial agency agreement with a UAE national or a company wholly owned by UAE… Continue reading Distribution & Agency: UAE Chapter 2019...
Insurance Financial Reporting Standards (IFRS) 17 represents a new and unprecedented international reporting and disclosure regime for the insurance industry [1]. IFRS 17 takes effect in January 2021 [2]. There have been many publications and a wealth of information on the reporting and disclosure standards in IFRS 17 offering guidance to the insurance industry, many… Continue reading IFRS 17 & UAE Regulatory Landscape...
Federal Law No.2 of 2019 – Using IT and Telecommunications in the Healthcare Sector Further to our recent Regulatory Alert “UAE Legal Update – Regulatory Alert Healthcare Federal Law No.2 of 2019 – Using IT and Telecommunications in the Healthcare Sector” We now set out further details of the Law in this Regulatory Alert (2).… Continue reading UAE Legal Update – Regulatory Alert (2) Healthcare & Data Privacy...
Earlier this year Saudi Arabia issued a historic new Bankruptcy Law (Saudi Arabia Royal Decree No. M5/1439 and Saudi Arabia Cabinet Decision No. 264/1439), the Kingdom’s Council of Ministers has adopted the new law’s Implementing Regulations in Saudi Arabia Cabinet Decision No. 622/1439 which was published in the Official Gazette, Issue 4744 on September 4,… Continue reading Down With The Details...
The Chairman of the Abu Dhabi Judicial Department, H.H Mansour Bin Zayed Al Nahyan issued Decision No.25 (the “Decision”) on the 27th of September 2018 to regulate tenancy committees, disputes and procedures in the Emirate. The purpose of the Decision is to expedite tenancy dispute proceedings and to provide speedy resolutions: Under the Decision, the… Continue reading New Abu Dhabi Tenancy Decision: What You Need to Know...
Abstract The implementation of VAT in the UAE left many registrants under the VAT laws asking questions, especially when it first came into operation. Now, several months down the line there are still some key issues that are not easily deciphered. Luckily, there is an avenue to answer some of these issues where clarity is… Continue reading Clarifications Where the VAT Law Seems Unclear...