The Dubai International Financial Centre (DIFC) was established in 2004 to position Dubai as a leading capital market, boasting its own judicial system. Inspired by English law, this system mirrors the procedures of English courts, overseeing civil and commercial transactions within the DIFC. Since its inception, the DIFC has drawn approximately 880 companies, predominantly operating...
The UAE’s labour law landscape is characterized by a general federal framework applicable throughout the Emirates, alongside distinct legal systems in the Dubai International Financial Centre (DIFC) and the Abu Dhabi Global Market (ADGM). Each system has its own unique regulations and procedures. Here’s a deep dive into the employment regulations in each of these...
The DIFC Employment Law is comprehensive and provides a clear framework for the employer-employee relationship to ensure that both parties are treated fairly. Disambiguation: This article discusses DIFC employment laws. For ADGM labour laws, please refer to ADGM Employment Laws. For UAE Federal labour laws, please refer to UAE Federal Employment Laws. Leading Financial Center in the...
Gratuity amount is calculated as follows: No gratuity until one year of service. 21 days of basic salary for each year of service for the first five years of employment; 30 days of basic salary for each subsequent year of service. As an employee in the Dubai International Financial Centre (DIFC), it is crucial to...
Free Zones in the UAE (United Arab Emirates) has been a key factor showcasing the country as a global business hub, attracting investors and entrepreneurs from around the world. One of the key factors contributing to this success is the establishment of Free Zones, which serve as specialized economic zones offering a range of benefits...
Ras Al Khaimah Digital Assets Oasis (RAK DAO) Free Zone signs agreement with DIFC Courts, to promote businesses in AI, Metaverse, Blockchain, NFTs, and more digital assets.
The UAE is home for several free zones and each free zone is regulated by its own laws. This article talks about employment laws pertinent to the DIFC. For employment laws relevant to the Abu Dhabi Global Market, see ADGM Employment Regulations: A Quick Overview. The Dubai International Financial Centre (DIFC) is a financial free...
On 13 September 2022, the UAE Ministry of Justice (MoJ) issued a directive that is seen as a significant stride toward the enforcement of English Court Judgements in the UAE. Principle of Reciprocity The directive states that judgments rendered by English Courts may be enforced in the UAE in accordance with the Principle of reciprocity...
DIFC, now available for all start-ups and entrepreneurs, offers an opportunity to grow and establish their businesses with the Innovation License. With DIFC’s vast connections every joiner will be open to diversified types of banks, financial, and service providers. DIFC Innovation License enables you to enter tech innovations in the MENASA region. DIFC FinTech Hive...
With the end of the Consultation period, the DFSA Board made several amendments after hearing from the Consultees. The DFSA force appointed the following Rulemaking Instruments: GENERAL MODULE (GEN) RULE-MAKING INSTRUMENT: Updated the General Module with a new Version. (Appendix 1 for amendments) CONDUCT OF BUSINESS MODULE (COB) RULE-MAKING INSTRUMENT: Updated the Conduct of...
