During February 2017, the Dubai Land Department announced the creation and launch of the “new standard tenancy contract,” which is required to be signed for the lease of any property in Dubai (excluding property in the DIFC), which is leased for residential, commercial or professional use. The use of the new standard contract became mandatory…
If you’re off sick from work on Thursday and then again on Sunday, you’ll be taking more sick leave than you may realise… It’s widely known that the UAE labour law allows for 15 days of fully paid sick leave, but we’ve just discovered a slight catch – if you are sick before and after your off-days…
* GCC nations likely to implement VAT simultaneously on January 1, 2018 * Approximately 100 staple food items will be tax exempt * Education, social services and healthcare to be zero-rated The GCC finally approved the value-added tax framework early last month with Bahrain being the last signatory thereto, confirming that the GCC will impose…
As a market participant, it is crucial to effectively communicate with the regulator to avoid pitfalls that arise out of misunderstandings with regard to expectations and applicable standards, explains Barry Greenberg. Anyone engaged in the UAE insurance market, whether on behalf of an insurer, claims administrator, broker, advisor, or other capacity, is aware that the…
John Peacock (Senior Associate) and Robert Mitchley (Associate) contributed a chapter on the UAE in the International Comparative Legal Guide – Real Estate 2017. It is the 12th edition of the this guide which provides global analysis of real estate regulations, written by leading lawyers, across 27 jurisdictions. Access this by clicking on: http://www.iclg.co.uk/practice-areas/real-estate/real-estate-2017/united-arab-emirates
1. An overview of the legal system in the Kingdom of Saudi Arabia, the Court structure, judiciary and legal representation. The Kingdom of Saudi Arabia (the “Kingdom”) is an Islamic monarchy that was established as a state on 23 September 1932 G. From its very beginning, the founders of the Kingdom have made it amply…
Although, the UAE’s Islamic Economy has been growing, there are outstanding issueswhich have slowed development. Rima Mrad of BSA Ahmad Bin Hezeem & Associates LLP explains the problems and changes being taken to tackle them. Over the past four years, there has been considerable growth in the Islamic economy in the UAE, which as a…
The Middle East is weathering the tumult of low oil prices. Slowly rising oil prices have restored a degree of calm. Some vital sectors such as construction see an uptake, yet investors remain cautious. Finance and banking are slow to recover. The combination of the recent financial trauma and the proactive measures many Gulf States…
For some while, the Dubai Department of Economic Development (DED) has had a Commercial Control and Consumer Protection Department (CCCPD), dealing with consumer disputes. However, it has recently set up a new sub-department, called the Business Protection Department (BPD) which will function as a local commercial dispute-resolution and settlement body. In the past, there were numerous disputes among businesses and professionals in Dubai but although…
Introduction In February 2016, the Ministry of Finance announced the introduction of Value Added Tax (“VAT”) in the UAE, and has ended a long period of speculation and discussion of “when” and “if” VAT would be introduced. According to the announcement, the UAE will impose VAT at a rate of five percent on the sale…