Commencing a fuel trading venture in Dubai positions your company as a crucial link in the global fuel supply chain, facilitating connections between producers and consumers worldwide from a geographically strategic location for the industry. To seize the numerous opportunities within this market, an understanding of both its dynamics and regulations is crucial. The Significance...
Dubai stands as a highly lucrative hub for tourism, where there is a convergence of cultures, adventures in the vast deserts of the Middle East, and luxurious shopping experiences in areas like the old souks and many malls which host millions of visitors annually. The holiday homes market in Dubai has prospered in the wake...
The UAE has recently undergone notable shifts in its approach to addressing individual labour disputes, through Federal Decree-Law No. 20 of 2023 Amending Certain Provisions of Federal Decree-Law No. 33 of 2021 Regarding the Regulation of Employment Relationships. The objective of this revision is to modernize the process of resolving disputes, reinforce the Ministry’s role,...
I. Introduction Renting and leasing properties in Dubai are common among both locals and expatriates, offering a wide spectrum of accommodation choices, from upscale apartments to expansive villas and commercial spaces. Typically, tenants and landlords enter into lease agreements outlining occupancy terms, duration, and conditions. Rental prices vary based on factors like location, size, and...
Before taking the step, you must know that the real estate market is heavily regulated. The United Arab Emirates is made up of seven emirates. Each emirate has its own laws and regulations regarding ownership and the possibility of expatriates owning real estate. This makes the real estate market heavily regulated. For example, if you...
With the United Arab Emirates (UAE) new Labour Law of February 2 (Federal Decree by Law No. 33) entering into force, it is important to discuss the update of how much a private sector employee should receive as a severance pay. In this sense, two fundamental issues must be analysed: first, the concept of payment...
The rapid advance of artificial intelligence (AI) is proving to be a complex issue for governments around the globe. Currently, international governing bodies are taking steps to regulate AI tools to ensure they are used in an ethical and safe way. There are many key issues that must be addressed by regulators as the potential...
The rapidly growing sector of Islamic finance, which was informally operating in the Russian Federation, has received endorsement from the government for the first time in legislation on 4 August 2023. Russian President Vladimir Putin signed Federal Law No. 417-FZ dated 04.08.2023, this law plans to introduce Islamic banking to assess its ‘feasibility’. The 2-year...
On 4 September 2023, the UAE Cabinet approved a new system for employees in the private sector and free zones of the UAE. The scheme will be optional for employers to join. The system will introduce a savings and investment fund from the private sector which will be overseen by the Securities and Commodities Authority...
On 31 January 2022, the UAE government announced that it would implement corporate tax at a rate of 9% on all profits above AED 375,000 generated by businesses in the UAE beginning 1 June 2023. Businesses with tax years beginning in January will not have to start paying tax on their revenues generated before 1...
The UAE has introduced a raft of liberal legal reforms as it tries maintaining itself as the regions trade, tourism and financial hub. The state-run news agency WAM announced that the UAE has established the General Commercial Gaming Regulatory Authority (GCGRA), which will be headed by the former Missouri Gaming Commission executive Director, Kevin Mullally....
The United Arab Emirates (UAE) has taken a significant stride towards modernizing its arbitration framework with the introduction of the Federal Law No. 6 of 2018 on Arbitration, also known as the New Arbitration Law. This legislation replaces the outdated and incomplete arbitration provisions of the UAE Civil Procedures Law No. 11 of 1992, aligning...
