News
AI Governance and Regulation: Council of Europe Sets Framework
The Council of Europe’s Convention on Artificial Intelligence lays a foundational framework for AI governance and regulation , emphasizing the protection of human rights, democracy, and the rule of law. AI Regulation and Governance: A Legal Perspective Artificial Intelligence (AI) represents a transformative leap in technological advancement, promising unparalleled benefits across various sectors. However, its…
Qatar Signs Landmark Tax Treaties with UAE and KSA
Following recent improvements in regional relations, Qatar has signed tax treaties with the United Arab Emirates (UAE) and the Kingdom of Saudi Arabia (KSA). These Double Tax Avoidance Agreements (DTAAs) are a positive step for businesses and individuals operating in all three countries. GCC Economic Cooperation Takes a Leap Forward In a significant development…
Dubai Developers Fined for Real Estate Escrow Law Violations
In a recent development, three prominent real estate developers in Dubai have been fined AED 500,000 each for violating the emirate’s stringent real estate escrow law. This significant enforcement action underscores the importance of compliance with regulations designed to protect investors and maintain the integrity of the real estate market. The authorities have not called…
UAE Blue Visa and Gaming Visa: For Business Growth and Innovation
UAE introduces Blue Visa and Gaming Visa addressing specific sectors with significant growth potential and opening substantial business opportunities. Sheikh Mohammed bin Rashid approves 10-year Blue Residency visa for environment champions https://t.co/7WKtLjJMBi pic.twitter.com/8Kkv47Pxqu — UAE News (@UAENews) May 15, 2024 The United Arab Emirates (UAE) has introduced the Blue Visa, the latest in a series…
UAE Tax Authority Announces Deadlines for Corporate Tax Registration
The Federal Tax Authority (FTA) have announced deadlines for completing the Corporate Tax Registration for Taxable persons in UAE. The Decision comes into effect from March 1, 2024. Background The FTA has issued new a decision that specifies the timeframes for applying for the Corporate Tax (CT) Registration. The CT regime, which came into effect…
Dubai Courts Introduce Non-Muslim Inheritance Department
The Department of Non-Muslim Inheritance respects the cultural and religious views of everyone in a cosmopolitan community. It follows a single-session procedure where the application to open the file and the decision accepting the execution of the will are presented together. The Dubai Courts have created the first-ever Inheritance Department for non-Muslims in an innovative…
US Court Declines to Enforce DIFC-LCIA Arbitration Agreement through DIAC
A look at the fate of existing DIFC-LCIA arbitration clauses after Dubai’s Decree 34 of 2021 dissolved the DIFC-LCIA and transferred its functions to the DIAC (Dubai International Arbitration Centre). In a recent development in the sphere of international dispute resolution, a United States court has refused to enforce a Dubai International Financial Centre-London Court…
The Daily Dose of Legal News and Views: Feb 02, 2024
Here our lawyers and editorial board members join hands to bring to you a curated list of legal news and views from across various sources. Views expressed are of the respective authors and publishers, not of ATB Legal. This list is curated only for informational purposes, and we are not responsible for any factual inaccuracies….
Bharat Mart in the UAE: A New Opportunity for Exporters
Bharat Mart, India’s proposed warehousing facility in the Jebel Ali Free Zone, is expected to be functional by 2025. It allows Indian exporters to showcase their products under one roof. Now they can serve UAE markets, GCC countries, and global markets. In the ever-evolving landscape of global retail, the introduction of Bharat Mart in the United…
UAE Set to Introduce Dedicated Bankruptcy Courts for Adjudicating Cases
UAE Bankruptcy Court according to the Federal Decree-Law No. 51/2023 comes into effect on May 1 Eliminates the need for distinct enforcement proceedings initiated by creditors Preventive Settlement mechanism replaces the Bankruptcy Preventive Composition In a significant stride towards enhancing the legal framework for financial restructuring and insolvency in the United Arab Emirates (UAE), the…