The United Arab Emirates (UAE) has emerged as one of the regional leaders in adopting and developing a robust information technology and internet infrastructure to accommodate the steep demand in e-commerce and digital...more
INTRODUCTION - The United Arab Emirates (UAE) has published its first Federal Data Protection Law No. 45 of 2021 (Law), which came into effect on 2 January 2022. This alert provides an overview of the Law which will be...more
INTRODUCTION - In our previous alert, we provided an overview of some of the key changes that were introduced by the new Federal Labour Law No. 33 of 2021 (New Law), which repeals Federal Labour Law No. 8 of 1980. The New...more
The United Arab Emirates (UAE) Ministry of Finance (Ministry) announced on 31 January 2022 that it will introduce a federal corporate tax regime for the first time in the UAE. A federal corporate tax law is expected to be...more
INTRODUCTION - The United Arab Emirates (UAE) recently published its new Federal Labour Law No. 33 of 2021 (New Law), which repeals Federal Labour Law No. 8 of 1980 (Previous Law). The New Law comes into effect on 2 February...more
The Board of Directors of the Dubai International Financial Centre (DIFC) Authority recently issued the DIFC Intellectual Property Regulations (IP Regulations). The IP Regulations took effect on 5 July 2021 and were issued...more
In our previous client alert, we reported that certain key changes were introduced to the United Arab Emirates (UAE) Commercial Companies Law No. 2 of 2015 (Companies Law). The text of the Federal-Decree Law No. 26 of 2020...more
In a previous client alert, we provided a high-level summary of the key changes introduced to the United Arab Emirates (UAE) Commercial Companies Law No. 2 of 2015 pursuant to Federal Decree Law No. 26 of 2020 (the Federal...more
EXTENSION ANNOUNCED - The Ministry of Finance (MoF) announced on 31 December 2020 the extension of the deadline for submitting the ESR’s notifications and reports. All companies in the UAE that were engaged in any of the...more
Background - The European Union (EU) has a blacklist of countries that do not meet the EU’s criteria on tax transparency, fair taxation, and the implementation of measures to counteract base erosion of profit shifting (BEPS)....more
Introduction - On 23 November 2020, Sheikh Khalifa bin Zayed Al Nahyan, President of the United Arab Emirates (UAE), issued a decree overhauling the rules relating to foreign ownership of companies in the UAE (the Decree) by...more
INTRODUCTION - On 24 August 2020, the United Arab Emirates (UAE) Cabinet issued Cabinet Decision No. 58 of 2020 on Regulating the Beneficial Owner Procedures (the Regulations) replacing Cabinet Decision No. 34 of 2020 on the...more
On 12 November 2018, the Dubai International Financial Centre (the “DIFC”) enacted several new laws, which overhaul the legal framework applicable to companies incorporated or registered in the DIFC....more
Introduction -
Recent technological innovations are transforming how financial activities are conducted and regulated. The technological advances have also resulted in disrupting traditional financial services and other...more