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....

A holding company is a legal entity that owns the assets or shares of other companies without engaging in operational activities itself. It serves to manage its subsidiaries and shield its shareholders from liabilities related to the subsidiaries. How holding companies work in UAE In the UAE, holding companies operate within the country’s business regulations....

Companies and individuals in the UAE have the opportunity to register their trademarks in diverse forms such as sounds, scents, geographical indication marks, and holograms. Abdulla bin Touq Al Marri, Minister of Economy, shared during the launch of the new intellectual property (IP) system in Dubai that the ministry is actively working to expand trademark...

The rapid advancement of Generative AI technology in cybersecurity necessitates governmental regulation, as its exploitation by malicious entities becomes increasingly prevalent, as per a recent report from the Aspen Institute. While acknowledging generative AI as a “technological marvel,” the report highlights the urgency for regulatory action, given the escalating frequency and severity of cyberattacks. The...

Dubai is one of the world’s fastest-growing financial hubs, and one of the critical reasons for that is the United Arab Emirates’s zero personal income tax policy. The UAE attracts people from all over the world to live and work. To avoid paying double tax and for your company to be exempt from paying tax,...

Dubai has positioned itself as a global financial centre, drawing in visionary entrepreneurs and ambitious investors to its vibrant ecosystem. The fintech industry is disrupting traditional banking and financial services. Dubai has become a focal point for fintech firms seeking a foothold in the Middle East and North Africa (MENA) region and beyond. Boasting pro-business...

On September 25, 2023, the President of the United Arab Emirates (“UAE”), issued Federal Decree-Law No. 31 of 2023, ushering in a new era for trusts by repealing the previous law, No. 19 of 2020. This momentous legal development, published in the official gazette, is now in effect, reshaping the regulatory landscape for trusts in...

In a significant development, the UAE Cabinet has unveiled Cabinet Resolution No. (96) of 2023 and Ministerial Resolution No. 668 of 2023, introducing an innovative voluntary end-of-service system for private sector employers and employees in the UAE. This alternative, referred to as the “Scheme,” is applicable to entities within free zones as well. The Scheme...

Introduction The Kingdom of Saudi Arabia stands as the largest economy in the Middle East, historically fueled by oil production with oil revenue dominating export earnings. KSA with the highest level of safe and secure business climate and political stability offers low energy cost and 100% foreign ownership in retail and wholesale sectors as a...