The India–United Arab Emirates Comprehensive Economic Partnership Agreement (“India-UAE CEPA”), which came into force on May 1, 2022, marks a pivotal milestone in the bilateral trade relations between the two nations. As India’s first CEPA with a major Middle Eastern partner, the agreement aims to deepen economic cooperation by reducing or eliminating tariffs, enhancing customs...
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...
To diversify focus away from oil and gas, the UAE cabinet decided to increase the local export market to 50% of the total export. Cabinet approved an export development policy to support the country’s foreign trade and thereby increase the GDP contribution from non-oil sectors. This was to be attained by opening new channels and...
Economic Substance Regulations was first launched in April 2019. Cabinet of Ministers made Amendments to the Regulations and reworked Guidance was launched in August 2020. The companies will have to maintain enough economic presence in UAE concerning the Relevant Activities undertaken. Related Services: General Corporate and Commercial Advisory, Intellectual Property Law, Shipping and Maritime Law The Relevant...
Foreign Ownership of Maritime Businesses The UAE Government has announced foreign ownership of maritime businesses in the country are now allowed. It follows the issuing of the positive list which is the official list of the commercial activities in which 100% foreign ownership is allowed. It will allow people to register vessels under the Emirati...
