Corporate Tax Registration: New Timeframes and Penalties
This legislative move is a strategic endeavor to align the nation’s tax system with global compliance efforts, notably the Organization for Economic Co-operation and Development’s (OECD) Base Erosion and Profit Shifting (BEPS) initiative, and the global consensus on a minimum corporate tax rate. The introduction of CT is aimed at diversifying the UAE’s economic base, […]
UAE’s Removal from FATF’s “Jurisdictions under Increased Monitoring” List
FATF’s Evaluation and Recommendations The inclusion in the grey list came as a result of the FATF’s 2020 Mutual Evaluation of the UAE , which highlighted areas requiring significant improvement to meet international AML/CFT standards. The FATF, serving as the global standard-setter in the fight against money laundering and terrorist financing, required the UAE to […]
Amendments to the Federal Decree-Law No. (33) of 2021 Concerning the Regulation of Employment Relationships
An Overview These amendments took effect from the 1st of January 2024, and introduced pivotal modifications to the jurisdiction and authority of the Ministry of Human Resources and Emiratization (MOHRE) in adjudicating certain employment disputes. Below is a comprehensive elucidation of the salient aspects of the amendment by Decree-Law No. (20) of 2023: Jurisdictional Scope: […]
Evolution of UAE Insolvency Law: Addressing Economic Dynamics and Prioritizing Rehabilitation
Need for Insolvency Law: In response to the swift economic growth and increased global business presence, the UAE identified the necessity to confront challenges faced by individuals in financial distress. Preceding the enactment of this law, instances such as bounced cheques and unmet financial obligations often triggered criminal prosecutions, posing formidable barriers for individuals seeking […]
Federal Law No. 41 of 2022 – Civil Personal Status
The law is based on Sharia (Islamic law), which significantly influenced the legal framework regarding governing marriage, divorce, custody, and inheritance within the country. This legal approach is reflective of the country’s cultural and religious heritage, ensuring that family matters were adjudicated in accordance with Islamic traditions and values. And remains the guiding law for […]
Changes to the UAE Legislative Framework on the UBO Regulations – Addressing Complex Legal Structures and Regulations on Procedures
Legislative Framework i. The UAE Cabinet Resolution No. 58 of 2020 replaced by ii. The UAE Cabinet Resolution No. 109 of 2023, which became effective on 16 November 2023, and iii. The UAE Cabinet Decision No. 132 of 2023, issued on 15 December 2023 The UAE’s implementation of Cabinet Resolution No. 109 of 2023 and […]
Introduction to the UAE Accountability Authority: A New Era in Financial Integrity and Governance
President His Highness Sheikh Mohamed bin Zayed Al Nahyan enacted Federal Decree-Law No. (56) of 2023, announcing the establishment of the UAE Accountability Authority, to officially replace the former Supreme Audit Institution established by Federal Law No. (8) of 2011, and all rights, assets and obligations. Applicable Legislation for the UAE Accountability Authority as defined […]
New Competition Law – Federal Law No. 36 of 2023 to Address Jurisdiction and Scope of Application, Anti-competitive Conducts, Administrative and Financial Penalties
This new statute, which supersedes the former Federal Law No. 4 of 2012, is designed to eradicate various limitations and practices deemed detrimental to a fair and competitive marketplace. Taking the step to updating its Competition Law enables the UAE to foster a dynamic, competitive, and fair marketplace, which is essential for its long-term economic […]
The Grave Risks of Illegally Employing Domestic Workers in the UAE: A Stern Warning to Residents
Introduction – Addressing a common yet legally ambiguous phenomenon Having a full-time person at home allows new mothers to return faster to their professional lives, boosts the family income and allows for quality time to be spent away from time consuming chores. This practice, while immensely beneficial to many households, frequently leads to complex issues […]
Floating Villa in Dubai – Court Upholds Buyer’s Rights in Refund
CASE OVERVIEW We filed the case before Real Estate Courts in Dubai requesting 1. Cancelation of the purchase agreements for failure to handover the villas on the date agreed in the agreements, 2. Refund of the paid amount (AED7,400,000), and 3. 9% interest. PARTIES’ ARGUMENTS Developer Arguments The developer presented several arguments challenging the jurisdiction […]
