UAE’s commitment to fostering a robust and dynamic e-commerce sector by setting clear guidelines and standards for online trade. Drafted to streamline operations, reduce bureaucratic hurdles, encourage innovation and provide conducive environment for e-commerce businesses. The law applies to those free zones that lack specific legislation to regulate trading through technological means. Delineates the rights...
A look at the fate of existing DIFC-LCIA arbitration clauses after Dubai’s Decree 34 of 2021 dissolved the DIFC-LCIA and transferred its functions to the DIAC (Dubai International Arbitration Centre). In a recent development in the sphere of international dispute resolution, a United States court has refused to enforce a Dubai International Financial Centre-London Court...
The UAE is introducing its Corporate Tax this year, and it’s crucial for partnership firms and family trusts to understand how it impacts them. Here’s a simplified breakdown. What is a Partnership Firm A partnership is a legal arrangement where two or more persons agree to manage, operate and share the profits of a business....
A guide to job visas and work permits in ADGM: The types of visas and work permits, the procedures and documents needed to secure them.
Bharat Mart, India’s proposed warehousing facility in the Jebel Ali Free Zone, is expected to be functional by 2025. It allows Indian exporters to showcase their products under one roof. Now they can serve UAE markets, GCC countries, and global markets. In the ever-evolving landscape of global retail, the introduction of Bharat Mart in the United...
A majority of tariff lines will be subject to 0% customs duties. Other tariff lines will undergo phased elimination of customs duties over 5, 7, and 10 years. Introduces an invoice declaration of origin tailored for approved exporters. Collaborative efforts are underway to address Technical Barriers to Trade (TBT). Commits to implementing Authorized Economic Operator...
UAE Bankruptcy Court according to the Federal Decree-Law No. 51/2023 comes into effect on May 1 Eliminates the need for distinct enforcement proceedings initiated by creditors Preventive Settlement mechanism replaces the Bankruptcy Preventive Composition In a significant stride towards enhancing the legal framework for financial restructuring and insolvency in the United Arab Emirates (UAE), the...
The Sultanate of Oman is gearing towards a Foreign Investor-friendly regulatory regime. With the latest regulatory reforms, foreign investment do not need a residency card to establish a business in Oman. This groundbreaking development is part of Oman’s strategic vision to diversify its economy and attract global investors. Thinking about expanding your business to Oman?...
Learn how to make a Tax Assessment Review Request and Tax Assessment Reconsideration Request in the UAE. Background of Federal Tax Authority As communicated in the Federal Decree-Law No. 28 of 2022 and Cabinet Decision No. (74) of 2023 On the executive Regulation of Federal Decree-Law No. (28) of 2022 on Tax Procedures, the...
The Abu Dhabi Chamber of Commerce and Industry has unveiled the Abu Dhabi International Arbitration Centre (arbitrateAD), a new international arbitration centre situated in Abu Dhabi. Starting February 1, 2024, the new governance framework and arbitration regulations will supersede those of the Abu Dhabi Commercial Conciliation and Arbitration Centre (ADCCAC). This significant development marks a...
This website provides general information only, may not reflect current law, and should not be acted upon without professional advice.
