The creation of a strong legal framework for commercial companies will positively impact the growth of FDI in the UAE Dubai is in the final countdown for the preparation of the long-awaited Expo 2020, which is set to open a year from now, in October. This is a key event set to take place in…
There is now a cap on all fees and payments paid by insurers to advisers for pure insurance or investment policies. The mis-selling of financial services products has affected many economies around the world where disposable income is relatively higher. In the UAE, to safeguard existing and potential customers, regulators have taken active steps to…
The Prime Minister of UAE His Royal Highness Shaikh Mohamed Bin Rashid Al-Maktoum issued law number 4/2019 for Dubai International Financial Center (DIFC) on November 21, 2019, “DIFC IP LAW”. With the help of this new law, we believe the UAE, and Dubai in particular, has advanced one step more in progressing its regional position…
UAE expat residents who find themselves in financial difficulties, indebted to the point where their options are limited, fleeing to the airport with hastily packed overstuffed cases and a one-way ticket out of town, should breathe a sign of relief. The UAE Cabinet has recently issued its long-awaited personal Insolvency Law, meaning the number of…
Munir Suboh discusses Competition Law and how it has evolved in the region from the Practitioners Perspective. Munir Suboh, Partner and Head of Intellectual Property Practice at BSA Ahmad Bin Hezeem & Associates LLP examines the implementation of the UAE’s Competition Law. Federal Law No. 4/2012 on the Regulation of Competition has been in force…
The United Arab Emirates’ life insurance market is set for radical change in 2020 with the implementation of the “New Life Insurance and Family Takaful Regulations” [1]. The United Arab Emirates Insurance Authority (“IA”) promulgated Decision No. (49) of 2019 Concerning Instructions for Life Insurance and Family Takaful Insurance (the “Regulations”), which has wide…
Prior to the recent passing of the Omani Royal Decree No 53/2019 (the “Bankruptcy Law”), Oman law contained limited legislation governing the area of bankruptcy. The Commercial Law issued by the Royal Decree No 55/1990 and the Commercial Companies Law issued by the Royal Decree No 4/1974 and their related amendments continued to provide the…
Rima Mrad of BSA Ahmad Bin Hezeem & Associates LLP looks at the potential impact of the new Foreign Direct Investment law on existing shareholding arrangements in companies. The enactment of the ground-breaking Federal Decree Law No. 19/2018 on foreign direct investments towards the end of 2018 was a clear indication of the UAE’s continuing…
It is a quarter past nine on a Tuesday morning and while motion in the lobby of the decades-old Dubai Land Department building is still slowly coming to life, two floors up, the offices of Dubai’s Real Estate and Regulatory Authority (RERA) is already a whirlwind of activity, the atmosphere abuzz with ringing phones and…
“Long and healthy lives” – This is the United Arab Emirates (‘UAE’) Government’s strategy set up by the Ministry of Health and Prevention (the ‘MoHAP’) to reinforce the country’s health system and the efficiency of medical services. The Government intends, through its UAE Vision 2021, to provide equitable access to world-class medical care whilst actively…
Dubai issued in September a new pertaining to the joint ownership of real estate in the emirate. Law No. (6) of 2019 outlines the procedures concerning the maintenance of buildings and common areas in addition to what share of costs each owner should pay. One of the key changes under the new law is the…
Accidental injuries are commonplace in any modern society. Such injuries are usually remedied by courts through compensation and damages awarded to the injured party, thus assigning some liability to the injurer, whether such injury was caused by a direct act or an indirect one. There are two legal systems in Dubai, the onshore courts which…