EU Passes Landmark AML Legislation For AC
This landmark legislation represents a critical step forward in the EU’s ongoing efforts to combat financial crime and ensure a safer economic environment for all citizens.
The Vital Role of Customized MoU’s for Real Estate
Why Customized MOUs Are Essential in UAE Real Estate Transactions:
A Landmark Win in Disputing Property Size Discrepancies at Handover
The central issue in this case revolved around the discrepancies between the property’s actual size upon handover vs. the stipulated in the Sale Purchase Agreement (SPA). Our client had purchased a residential property, with the SPA explicitly detailing the apartment’s size, along with an adjacent garden and terrace areas. However, upon delivery, it became evident […]
Without a Valid Will: Navigating Intestate Probate in the UAE
Introduction: A Tragic Event Underscoring the Imperative of Estate Planning This sorrowful occurrence brings to the forefront an essential lesson for individuals of every age, profession, social standing, nationality, and marital status: the indisputable importance of meticulous estate planning in the face of life’s unforeseen events. Although we come across such stories of life unpredictability […]
The Role of MoU in Real Estate Transactions
Defining the MoU as a legal instrument: A memorandum of understanding serves as a preliminary agreement between parties involved in a property transaction. It outlines the key terms and conditions agreed upon by both the buyer and the seller, laying the foundation for further negotiations and formal contracts. Significance of a MOU in Real Estate […]
Navigating the Legal Landscape: Understanding UAE’s Laws on Bank Loan Default
In the dynamic economic environment of the United Arab Emirates (UAE), understanding the legalities of bank loan default is paramount for both lenders and borrowers. The UAE, known for its rapid development and business-friendly atmosphere, has continually evolved its legal system to ensure a robust and fair approach to financial transactions and enforcement of loan […]
Dubai Real Estate Law Update: Eviction Notice transferred with the property sale.
Historical Context: Eviction Notice Processes Historical Process: Originally, eviction notices were exclusively associated with the individual or entity that issued them. This legal framework necessitated that new property owners, upon acquiring a property with existing tenants, had to issue a fresh 12-month eviction notice, disregarding any notice previously served by the former owner. Consequences for […]
Guardianship 101
HISTORICAL REVIEW Notably, modern French and German civil codes have deeply interconnected guardianships with family considerations, prioritizing the appointment of relatives as guardians. This emphasis on familial ties seeks to ensure a strong support system for the individuals under guardianship. Across various European countries, public agencies have been established to administer guardianships, aiming to maintain […]
Dubai has announced a new tax on foreign banks operating in the Emirate.
Introduction Aligned with Gulf Cooperation Council countries’ initiatives for economic diversification, Dubai enacts Law No. (1) of 2024. This legislation supersedes Regulation No. (2) of 1996, introducing a contemporary framework for taxing foreign banks operating within the Emirate, including special development zones and free zones, with an exemption for entities licensed by the Dubai International […]
Estate Planning 101: Securing Your Legacy and Protecting Your Loved Ones in the UAE
Introduction to Estate Planning: A Necessity for All Initially devised to organize the transfer of assets upon death, it has become a critical process for individuals worldwide to secure their financial legacy. Contrary to the common misconception that estate planning is exclusive to the wealthy, it is, in fact, a valuable tool accessible to everyone. […]
