How does a fractional title deed work? With the aim of attracting investors to the Emirate, the Dubai Land Department (DLD) announced a ‘fractional title deed’ initiative. A fractional title deed effectively divides what would normally be one unit (held via a single deed) into two or four parts. The investor may buy up to…
His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai issued Law No. (4) of 2020 (the “Law”) on Saturday, 3 July 2020, regulating drone activity in Dubai. Aside from military-purpose drones, which are exempt, this law applies to the activity of all types of…
The United Arab Emirates (UAE) Insurance Authority (IA) has confirmed that capitation schemes related to the health insurance business in the UAE are unlawful and all IA, authorized and licensed entities must immediately cease the operation of such schemes. Circular No (17) of 2020 for the Cessation of Violating Practices dated 2 June 2020 (the…
The long-awaited revamp of the data protection regime has finally arrived in the DIFC. As one of the first jurisdictions in the Middle East to draft a stand-alone data protection law, the DIFC has always stood on the forefront of ensuring that the best standards of privacy and data protection would be a key building…
Regulatory Changes for Insurance Disputes in the United Arab Emirates and the existing Insurance Dispute Committee in the Kingdom of Saudi Arabia BSA are often instructed by the London market for coverage advice pending disputes between cedant and reinsurers. Many of those treaty terms will be governed by the laws of various Middle East jurisdictions…
The Dubai Government issued decree number 6 of 2020 in relation to advertisement regulations. This new decree sets out new guidelines, regulations and permits criteria for all physical advertisements, such as signages, outdoor billboards, promotions, leaflets, roads, commercials and others. Historically, there was a decree number 30 of 1986 that was issued in Dubai to…
Introduction In April 2019, the new Commercial Companies Law (the “New CCL”) entered into force and repealed the previous Commercial Companies Law (Law No. 4/1974) in its entirety. Although the New CCL will not have a significant bearing on the corporate sector, we do believe that the changes brought forward will bring Omani corporate legislation…
The Capital Markets Authority (CMA) in Oman, the financial regulator, has released the new mandated medical insurance Law, Unified Health Insurance Policy and the Health Insurance Rules under Decision No.78/2019 through Resolution No 34/2019 – For the Issue of Unified Healthcare Insurance Policy Form. The Health insurance market embraces itself for another mandated health insurance…
Context Misconceptions persist among business owners and directors as to the purpose of the UAE Bankruptcy Law and its comparative likeness to international counterparts, notably the US Bankruptcy Code. All too often they mistakenly regard the regulations as a magic bullet which can make their financial problems disappear. They fail to appreciate the myriad drawbacks…
Prologue In the last decade, the Gulf Cooperation Council (GCC) has witnessed some legislative developments signalling efforts to reduce barriers to foreign investment in most of its member countries. The move has come due to a sharp decline in crude oil prices since 2015 resulting in significantly lower state revenues and partly due to the…
