Compliance in the UAE
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 […]
Madhav Vinod Krishna · 8 Nov 2024 · 12 minRead →
AML
Money laundering and terrorism financing have serious implications for economies and societies worldwide, leading countries to implement stringent anti-money laundering (AML) regulations. The UAE, being a prominent international financial hub, has established robust AML and Counter-Terrorism Financing (CFT) regulations to protect its financial system. The UAE’s AML regulations are enforced by various supervisory authorities, such […]
Kartik Shetty · 7 Nov 2024 · 6 minRead →
Intellectual Property
The United Arab Emirates (UAE) has long been a regional hub for trade, innovation, and commerce, drawing attention from businesses across the globe. UAE Intellectual Property Law (IPR) have become increasingly critical as the UAE strengthens its position as a business and innovation zone. In the context of international business and trade, IPR laws have […]
Hemakshi Prabhu · 5 Nov 2024 · 15 minRead →
Corporate and Commercial
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 […]
Madhav Vinod Krishna · 25 Oct 2024 · 6 minRead →
Arbitration
The United Arab Emirates (“the UAE”) has solidified its position as a global hub for international trade, business, and dispute resolution, making it a crucial jurisdiction for arbitration. Arbitration has become the preferred mode of dispute resolution in the UAE, particularly in commercial disputes, owing to its flexibility, confidentiality, and enforceability. The country’s legal framework […]
Reshma Rose Jacob & Merrya Ginto · 23 Oct 2024 · 7 minRead →
Corporate and Commercial
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 […]
Hemakshi Prabhu · 21 Oct 2024 · 9 minRead →
Legal Help Desk
Question: “We’ve heard about companies getting burned by poorly drafted termination clauses. For instance, in Project X, the builder terminated the contract, leading to significant delays and legal battles. Similarly, some small firms have been pressured into long-term contracts with hefty termination fees, causing financial strain. We’re worried about facing similar issues. How can we […]
Legal Help Desk · 19 Oct 2024 · 5 minRead →
Corporate and Commercial
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 […]
Aparna T Nambissan · 15 Oct 2024 · 6 minRead →
Legal Help Desk
Question: “We thought we were being careful, but boy, were we wrong. We signed an NDA with a potential vendor before discussing a new product launch. Everything seemed fine—until six months later, we found out they’d pitched a remarkably similar product to one of our competitors! We pointed to the NDA, but it turned out […]
Legal Help Desk · 12 Oct 2024 · 4 minRead →
Legal Help Desk
Question: “Our clients often ask for non-compete clauses in agreements. How do we ensure they’re enforceable under UAE law without being overly restrictive for us? I don’t want to sign something that feels like a lifetime sentence!” Answer: Ah, the dreaded non-compete clause—a classic tug-of-war between “You can’t steal my clients!” and “But I still […]
Legal Help Desk · 5 Oct 2024 · 4 minRead →