News
ADGM’S LATEST DATA PROTECTION REGULATIONS
The Abu Dhabi Global Market (ADGM) launched new Data Protection Regulations (“the Regulations”) on 14th February 2020, replacing the 2015 version. The new regulations broadly align itself with the European Union’s General Data Protection Regulation (GDPR), which is considered to be the gold standard for data protection legislation. Key Features of The Regulations The new…
ONE-DAY SETTLEMENT FOR VERDICTS RELATED TO PERSONAL AFFAIRS IN DUBAI COURTS
Disputes concerning personal affairs such as alimony, custody of children, dowry, complaints on visiting by non-custodial parents etc. will now be settled in a single session. The issuance of this rule is under the ‘Regulatory Procedures Guide on Personal Affairs’. The new regulatory guide will cut time and effort and will help the stability of…
CLARITY ON ENVIRONMENT LICENSE CONDITIONS FOR CONSTRUCTION PROJECTS IN ABU DHABI
The owners of the construction buildings are now required to obtain environment licenses in three instances as proclaimed by the Abu Dhabi Environment Authority. The idea is to assess the environmental hazards and to stop or curb their impact by these licenses. They are: Start of a new project or a new building. Existing project…
DUBAI LAUNCHES ‘SPACE COURTS’ TO SUPPORT GLOBAL SPACE ECONOMY
Dubai International Financial Centre (DIFC) Courts and the Dubai Future Foundation (DFF) have launched Courts of Space on 01.02.2021 to judge global space disputes. Trainings will be provided to Judges to qualify as experts in space legal disputes. The launch signifies UAE’s intent to pioneer in the cases related to space disputes. Related Services: DIFC…
UAE TAKES MORE STRINGENT MEASURES ON MONEY LAUNDERING
Recent UAE Court judgements and stringent measures taken by UAE authorities point to an approach of zero tolerance towards money laundering activities. In most of the cases, the officials were accused of money laundering, misappropriation of public funds, forgery and use of forged documents. Related Services: UAE Mainland Litigation, Banking Legal Services A former Chairman and…
INDIA BUDGET 2021 – GOOD NEWS FOR NRI’S
Contrary to previous budgets, this year NRIs have received their fair share of incentives. The foremost is the relaxation announced on Double Taxation. Finance Minister Smt. Nirmala Sitharaman pointed out that NRIs faced issues related to their accrued incomes in their foreign retirement accounts mainly due to a mismatch in the taxation periods. The new…
UAE TO GRANT CITIZENSHIP TO FOREIGNERS TO RETAIN TALENT AND DIVERSIFY THE ECONOMY
UAE plans to offer citizenship to gifted expatriates and thereby give them a bigger stake in the economy. The new amendment states that UAE nationality may be obtained by law, citizenship or naturalization. The policy aims to acknowledge the exceptional foreign talents in UAE and to attract new talents resulting in the development and prosperity…
Arabtec appoints Advisors for selling its Subsidiaries during Liquidation Process
Arabtec, Dubai-based construction major, hired de Novo Corporate Advisors and Lumina Capital Advisers to secure maximum value for subsidiaries including Target Engineering and Arabtec Engineering Services (AES). The company assured the creditors that they would try their level best to protect the value of the liquidation assets. The company is ready to implement all possible…
ICC ARBITRATION RULES 2021: KEY CHANGES AND TAKEAWAYS
ICC Arbitration Rule 2021 applies to all ICC arbitration proceedings happening after the 1st of January 2021, regardless of the agreement end date. The exception is only when the parties at the time of submission agrees to go with the existing agreement. The 2021 Rules aim at greater efficiency, flexibility and transparency of the proceedings…