UAE Anti-Corruption & Bribery Laws Introduction At present, the United Arab Emirates (hereinafter “UAE”) does not have a comprehensive legislation directed towards curbing corruption and bribery in the country. However, the Federal Law no. 3 of 1987, which is the Federal Penal Code of UAE, provides the requisite laws to govern bribery and corruption [...]
The Targeted Economic Support Scheme At a time where countries around the world look to their governments to provide guidance on the way forward, UAE has taken preemptive measures to stimulate the economy and combat the continuing impact of Covid-19. On 14/03/2020, the Central Bank of the UAE (“Central Bank”) announced the ‘Targeted Economic [...]
UAE ON PLEDGE LAW On 15th March 2017, Law No 20 of 2016 Regarding the Pledge of Movables as Security for a Debt (“Pledge Law”) came into force in the United Arab Emirates. The Pledge Law is poised to substantially alter and create certainty in commercial lending practices in the UAE. It provides protection [...]
Ensuring Your Arbitration Agreement is Valid - Contracting with UAE Registered Companies Arbitration agreement is an agreement that provides a method of resolving disputes amicably and providing both the parties with a win-win situation. Such agreements are generally inserted as a clause in the work agreement or a separate agreement is prepared working out [...]
Power of Attorney Introduction Ranging from business decisions, to legal representations, power of attorneys represent a vital element in the legal process. This legal document can have wide utilization – it is absolutely essential for it to be in the arsenal of any individual or corporation in order for the same to be represented [...]
Foundation of the Future: Investing in UAE Real Estate Introduction In the recent past, it has been realized by the economies around the world that the best for development is by opening the economy and allowing free trade. Similar is the case of the United Arab Emirates, who's government, in the past few years, [...]
Fintech Regulations in the UAE What is the current investment in the Fintech sector of the UAE? The United Arab Emirates is one of the largest fintech hub for start-ups in the MENA region. The country taking the lead in this industry in MENA is Bahrain. UAE is second in place with the increase [...]
Regulation of the Submission of Reports by Multinational Companies The Cabinet Ministry of the UAE has enacted the Cabinet of Ministers Resolution No. 32 of 2019 concerning the Regulation of the Submission of Reports by Multinational Companies (“Resolution”). The focus of this Resolution is to improve tax coordination and transparency between countries by implementing [...]
Defamation on Social Media Introduction Since the beginning of the mankind, one thing that differentiated us from all other species on this planet is our thinking and our philosophies. Amongst those ideals, reputation is considered as an important facet of a human being. Modern times are no different, as laws throughout the world try [...]
Stay Compliant with Economic Substance Regulation On April 30, 2019, the United Arab Emirates (UAE) issued the Cabinet of Ministers Resolution No. 31 of 2019 concerning economic substance regulations in the UAE (“New Law”). The introduction of the new law follows the decision of the European Union (EU) to include UAE on a list of [...]
