Insight Category: News
UAE-based Amanat Holdings, a healthcare and education investment company, has recently received approval to raise the cap on foreign ownership of the company’s shares from 49% to 100%. The company obtained the necessary approvals from the Securities and Commodities Authority (SCA), it said in a bourse filing on the Dubai Financial Market (DFM). The amendment… Continue reading Raising ownership of UAE company shares to 100%: Rewards and risks...
The legal lowdown on rental increases and maintenance fees Rent in Dubai is on the rise, however as a tenant in Dubai you don’t have to just sit back and go with the flow when it comes to rental hikes. There are legal limits on how much rent can be raised. So how much can… Continue reading Renting in Dubai: Tenants’ rights...
The United Arab Emirates’ new unemployment insurance scheme came into force last week, offering a safety net for expatriate residents and citizens who find themselves out of work. Originally announced in May, the program was launched as part of reforms aimed at attracting more talent and investment into the country. In the following article, partner… Continue reading Everything you need to know about the UAE’s new employment insurance scheme...
The following update provides an overview of Federal Decree-Law No. 14/2022 concerning amending some provisions of Federal Decree-Law No. 33/2021 regarding the regulation of labour relations. The UAE government has recently updated Clause (3) of Article (8) of the Federal Decree-Law No. 33/2021, Regulating Labor Relations (the Labour Law), by issuing Federal Decree-Law No. 14/2022… Continue reading Overview of Federal Decree-Law No.14/2022...
The Gulf News reader said: “I was previously a domestic worker. After leaving that job, I started working as a messenger at an office. After four months of work at the company, my boss’s relative assigned me a personal task – to drop and pick up a family member from Abu Dhabi. We agreed that… Continue reading UAE Labour Law: Can an employee withdraw their resignation after filing it?...
A criminal complaint takes precedence over a civil claim or “Le criminel tient le civil en l’état”, is a legal principle with origins in the French Penal Procedures Law, which is commonly applicable in most countries following a civil law system. This principle aims to stay civil proceedings until a final and enforceable judgment is… Continue reading Bankruptcy limitation on criminal complaints...
The following article provides a useful guide to the various types of funds within the UAE. I. FREE ZONE FUNDS Foreign investors interested in creating an investment fund in the UAE can choose between two free zones the Dubai International Financial Centre (the “DIFC”) located in the Emirate of Dubai and regulated by the Dubai Financial… Continue reading Types of funds in the UAE...
The UAE’s Crypto Industry’s Exponential Growth Leading to an Increase of Cryptocurrency-Related Scams: How to Detect and Avoid them It has become increasingly clear that the UAE has recognized the tremendous potential of cryptocurrency and blockchain technologies and is set to become a hyper-connected city and an ever-evolving business hub. One of the consequences of… Continue reading The rise of crypto scams in the UAE and how to secure your crypto transactions...
The ongoing legal battles surrounding the NMC Healthcare, the largest private healthcare provider in the United Arab Emirates (UAE), has been a big learning curve for how businesses manage their financial records and how banks carry out due diligence, while the eventual outcome will put in place an important set of new legal precedents, BSA… Continue reading NMC scandal is watershed moment for UAE businesses...
An overview of the Federal Narcotics and Psychotropic Substances Control Law Promulgated by Federal Decree-Law No. 30 of 2021. Recently the law regarding narcotic drugs and psychotropic substances has been updated, this is in light of legislative developments pursued by the UAE legislator in developing several laws within the country. There have been misinterpretations made… Continue reading The Federal Narcotics and Psychotropic Substances Control Law and deportation...