Recent UAE Court judgements and stringent measures taken by UAE authorities point to an approach of zero tolerance towards money laundering activities. In most of the cases, the officials were accused of money laundering, misappropriation of public funds, forgery and use of forged documents. Related Services: UAE Mainland Litigation, Banking Legal Services A former Chairman and...
Contrary to previous budgets, this year NRIs have received their fair share of incentives. The foremost is the relaxation announced on Double Taxation. Finance Minister Smt. Nirmala Sitharaman pointed out that NRIs faced issues related to their accrued incomes in their foreign retirement accounts mainly due to a mismatch in the taxation periods. The new...
UAE plans to offer citizenship to gifted expatriates and thereby give them a bigger stake in the economy. The new amendment states that UAE nationality may be obtained by law, citizenship or naturalization. The policy aims to acknowledge the exceptional foreign talents in UAE and to attract new talents resulting in the development and prosperity...
Arabtec, Dubai-based construction major, hired de Novo Corporate Advisors and Lumina Capital Advisers to secure maximum value for subsidiaries including Target Engineering and Arabtec Engineering Services (AES). The company assured the creditors that they would try their level best to protect the value of the liquidation assets. The company is ready to implement all possible...
ICC Arbitration Rule 2021 applies to all ICC arbitration proceedings happening after the 1st of January 2021, regardless of the agreement end date. The exception is only when the parties at the time of submission agrees to go with the existing agreement. The 2021 Rules aim at greater efficiency, flexibility and transparency of the proceedings...
Here we are listing out few points to remember for appealing in Dubai Courts if you are not satisfied with the verdict. The foremost thing is the timeframe. It is equally applicable to both the petitioners and defendants. The appeal against a first-instance verdict should be done within 15 days from the date of Judgement....
2020 saw several laws that would alter your life in UAE in the personal front and in the public front. This covers a wide range from marriage laws to Arabic interpreters for Foreign speakers. Life in UAE is definitely going to change for the better with these laws. A quick glance through the major ones:...
British Oil and Gas explorer Cairn Energy Plc has won an arbitration award of USD1.2 billion, plus interest and costs against the Government of India on a tax dispute. The dispute arose as a result of a change in Indian Tax law in 2012, enabling the government to retrospectively tax companies for mergers and acquisitions...
The International Chamber of Commerce (ICC) and Abu Dhabi Global Market (ADGM) announced the opening of an ICC case management office in Abu Dhabi, UAE. The existing activities of the ICC MENA region will be integrated into this new case management structure, as agreed by ICC and ADGM. Related Services: ADGM Practices Operations are expected...
The UAE Federal Judiciary approved the establishment of misdemeanor courts for the decision of specific minor cases in just one day based on the Code of Criminal Procedures. This will reduce the backlog of cases in the courts resulting in better efficiency of judiciary. Related Services: UAE Mainland Litigation The cases that are addressed in...
