The UAE’s New Bankruptcy Law, effective from May 1, 2024, sets out a structured approach for entities facing insolvency, providing a pathway for liquidation as a final option. This article complements our foundational article on UAE bankruptcy law by offering a clear, step-by-step guide for stakeholders to understand and navigate the liquidation process under the new...
On May 1, 2024, Federal Law Decree No. 51 of 2023 on Financial Restructuring and Bankruptcy (the “New Bankruptcy Law”) took effect, replacing Federal Decree-Law No. 9 of 2016 (the “Old Bankruptcy Law”). Although much of the structure from the previous law remains intact, the new legislation introduces significant updates, especially regarding how insolvency laws in the...
The UAE has increasingly prioritized data protection in the digital era, developing a robust legal framework to ensure the privacy and security of personal data. The most significant legislative development in this regard is the Federal Decree-Law No. 45 of 2021, commonly known as the Personal Data Protection Law. Alongside this law, a series of...
The United Arab Emirates (UAE) is a federation of seven emirates: Abu Dhabi, Dubai, Sharjah, Ajman, Umm al-Quwain, Fujairah, and Ras Al Khaimah, formed in 1971. Each emirate has its own unique characteristics, but they stand united by a unified federal legal system. Over the past few decades, the UAE has developed from a growing...
The UAE’s competition framework is designed to foster a robust and dynamic market environment by safeguarding and promoting anti-competitive practices and ensuring compliance with fair pricing mechanisms across industries. The UAE’s Competition Law, governed by Federal Law No. 36 of 2023 (“Competition Law”), establishes a framework designed to prevent monopolistic practices, encourage market fairness, and...
When setting up a business in the UAE, one of the first and most important steps is registering your company. However, before you can proceed with the registration, you must reserve a trade name for your business. This step is crucial as it establishes your company’s official identity and sets the foundation for all subsequent...
Navigating the legal landscape in Saudi Arabia requires a thorough understanding of the regulatory framework governing foreign business operations. Compliance is not merely a procedural requirement; it is essential to mitigate risks and ensure the smooth establishment and operation of a business within the Kingdom. This article outlines the key legal considerations for foreign businesses,...
Incorporating a business in Saudi Arabia can be a rewarding endeavour due to the Kingdom’s growing economy and strategic location. However, like any foreign investment market, it presents its own set of challenges. Understanding these hurdles and knowing how to overcome them is essential for foreign investors seeking success in the region. Below are some...
Registering a non-profit NGO in the UAE requires adherence to specific legal requirements and procedures. This initiative aims to empower women in a traditionally male-dominated industry by providing support, networking opportunities, and resources tailored to their unique challenges and aspirations. By establishing the association as a non-profit NGO, the organization can engage in advocacy, educational...
Establishing a business in the United Arab Emirates (UAE) comes with numerous opportunities, but it also requires a firm understanding of the regulatory and banking landscape. One of the essential steps in setting up your business is opening a business bank account. This article will guide you through the process, the required documentation, and the...
