News
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…
UAE Media Law Reform: The New Decree-Law and Regulatory Landscape
UAE’s recent enactment of a federal decree-law signifies a pivotal step towards regulating and nurturing a vibrant media landscape. The comprehensive legislation extends ownership opportunities to both individuals and legal entities The UAE Media Council will oversee various aspects including the classification of creative productions and issuance of permits The decree outlines a 12-month adjustment…
Oman Opens Wider for Foreign Investment; Allows Non-residents to Start Business
The Sultanate of Oman is gearing towards a Foreign Investor-friendly regulatory regime. With the latest regulatory reforms, foreign investment do not need a residency card to establish a business in Oman. This groundbreaking development is part of Oman’s strategic vision to diversify its economy and attract global investors. Thinking about expanding your business to Oman?…
UAE Accountability Authority: A Successor to the Supreme Audit Institution
The Supreme Audit Institution in the UAE is being replaced by the UAE Accountability Authority. The new Authority will be instrumental in UAE’s effort to curb Bureaucratic corruption and offer improved protection and safeguards to whistleblowers. Background WAM (Emirates News Agency), the official news agency of the United Arab Emirates (UAE) has reported on…
New Law Reduces Judicial Fees in Ras Al Khaima Courts
Judicial fees in Ras Al Khaima courts are substantially reduced for various legal proceedings, including civil and commercial lawsuits, rental disputes, and executive cases. Fee reductions for appeals made before the Courts of Appeal and Cassation. Jointly intervening litigants can engage in the legal process without incurring additional charges for their motions. On November 16,…
arbitrateAD: Abu Dhabi Heralds a New Era in International Arbitration
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…
UAE Amends the Abortion Laws Under Medical Liability Laws; Empowers Women
Medical Termination of Pregnancy is allowed when: aborting the fetus is the only option available to save the life of the pregnant woman. the fetus is malformed, with high chance of stillbirth or deficiencies in the child’s health, development and quality of life. Private health facilities must refrain from abortion operations unless they hold specific…
UAE Finance Lease Laws: Lessee or Lessor—Who is Liable for the Losses?
Federal Decree-Law No. (32) of 2023 on Finance Lease comes into effect on 29 March 2024 Bilateral and tripartite leasing includes sale-leaseback arrangements Registration of a finance lease agreement is no more mandatory; but needed to ensure enforceability with third parties In a tripartite lease arrangement, the risk of loss concerning the leased asset is…
30-year Tax Exemption for Companies Moving Regional HQs to Saudi Arabia
Wooing corporates: KSA’s tax strategy to lure companies into shifting regional HQ to Saudi The Background Competition is intensifying between Kingdom of Saudi Arabia (KSA) and the United Arab Emirates (UAE), two of the biggest economies of the GCC, to become economic superpowers. KSA, the world’s largest oil exporter, has been actively pursuing bold…