Investment forms the foundation of corporate governance under Federal Decree-Law No. 32/2021 on Commercial Companies Law (Companies Law). Shareholders play a pivotal role in ensuring the financial health and prosperity of a company. This article explores the rights and responsibilities of shareholders concerning their investments and profit sharing, highlighting the procedures for amending the Memorandum...

In a significant move to bolster the real estate sector, His Highness Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai and Chairman of the Executive Council, has issued Resolution No. 36 of 2024. This Resolution mandates forming a Committee for Real Estate Investment Funds (“Committee”) to enhance governance, compliance, and support...

The Madrid Protocol has streamlined the process of international trademark registration, allowing brand owners to register their trademarks in over 120 countries with a single application. However, it is essential to adhere strictly to all mandatory requirements and standard procedures to avoid delays. Consulting with trademark agents in the UAE can help you navigate the...

If you work in a free zone in Dubai and face issues such as unpaid wages, problems with overtime pay, or late salary payments, you have the right to file a labour complaint. However, the process for filing a complaint is slightly different for free zone workers because most free zones in the UAE have...

The Dubai Courts have unveiled a significant overhaul in their procedures for handling inheritance cases, simplifying the process for both residents and expatriates. This initiative is part of a broader strategy to enhance access to justice and streamline legal processes for the public. Traditionally, dealing with inheritance matters has been a complex and time-consuming endeavour,...

As the world’s first authority solely dedicated to regulating virtual assets (VAs) and related activities, the Virtual Assets Regulatory Authority (VARA) has established a comprehensive framework to enable virtual asset service providers (VASPs) to operate within a robust and clear regulatory environment. This heralds a new era of regulatory oversight in the virtual asset industry....

The Dubai International Financial Centre (DIFC) introduced the new Digital Assets Law No. 2 of 2024 (the Digital Assets Law), along with significant amendments to existing legislation. This law defines digital assets in the context of property law and outlines how these assets can be controlled, transferred, and managed. Background and Purpose The enactment of...

Investing in an off-plan property in Dubai can be a lucrative opportunity, but it’s essential to understand your rights and conduct thorough due diligence before signing any agreements. Here’s a comprehensive guide on what to consider and your rights if the property is not handed over on time. Due Diligence Before Signing an Agreement Before...

The concept of tokenizing real estate has gained significant traction in recent years. By leveraging blockchain technology, property owners and investors can now benefit from a more efficient and accessible way to invest in real estate assets. This guide will explore the process of tokenizing real estate from a legal point of view. Step 1:...

Trademark licensing is the process wherein a trademark owner permits a third party to utilize the registered trademark within business operations without transferring ownership. This arrangement enables individuals or entities to use the mark for specified goods or services as outlined in the license agreement. The trademark proprietor retains control by imposing restrictions and conditions...

The arrival of bad weather, particularly heavy rain in April 2024 has raised legal questions regarding contractual obligations in the UAE. As businesses and individuals grapple with the implications of the record level precipitation, understanding the legal framework becomes paramount. Legal Framework: Article 249 of the UAE Civil Code The starting point in addressing contractual...

Dubai, UAE – Dubai Law No. (1) of 2024 on Taxation of Foreign Banks has brought significant changes to the taxation landscape for foreign banks operating in the Emirate. Here’s a concise overview: Key Changes: Tax Structure: Foreign banks were previously subject to a 20% tax on their annual taxable income at the Emirate level....