Guide on Avoidance of Double Taxation (DTAA) – UAE & India Introduction Benjamin Franklin once said, there are two things you cannot avoid; death and taxes. In a country like the UAE, where tax is almost invisible, corporate tax is levied on oil companies and foreign banks as part of…
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Inchoate crimes and criminal responsibility: UAE Law Introduction As a general rule, criminal codes punish all those criminal acts preceding the commission of a crime. The liability hereunder is determined by the intention to commit the crime. It is to be kept in mind that, merely thinking about committing a…
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Termination of Sale Purchase Agreement in the UAE Introduction A Sale and Purchase Agreement (SPA) is a widely used contract/agreement in business transactions. It is predominantly used in the land department. It is beneficial, and a vital necessity that people looking to settle or finalize a deal of either property…
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Abu Dhabi: Legislative Amendments to freehold Ownership Law Introduction Abu Dhabi, being the capital of the UAE, is a sea of opportunity for growth of the business, investment, technical and urban development. However, it has yet to reach its full potential. A research conducted by the Abu Dhabi Urban Planning…
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UAE: Federal Law Number 4 of 2020 on Securing Interest over Movable Assets Introduction Federal Law Number 20 of 2016 concerning mortgage of movable properties has been repealed and replaced by the introduction of Federal Law Number 4 of 2020 on securing interest over movable assets. It is imperative to…
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Enforcement of New York Convention Award in the UAE Introduction Arbitration clauses are becoming more and more prominent in corporate agreements, the reason behind this is the ease with which disputes can be dealt with as compared to the traditional court system. In any case, a corporation may find that…
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Concealment of Assets in Bankruptcy Introduction A businessman's business is basically his baby; the decision of going through the process of bankruptcy is probably the most difficult decision that a company has to make throughout its lifetime. Everyone involved in the procedure, be it, the debtors or creditors are losers…
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Initial Public Offering – UAE An initial public offering is a process that allows companies to offer their shares to the public for the first time. This can be done by publishing a prospectus, offering shares for subscription, submitting relevant documents for approval and so on. Further, Public Joint Stock…
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UAE: Effect of the Amendment to the Companies Law on LLCs Introduction The UAE government has recently amended Federal Law Number 2 of 2015 (hereinafter referred to as “Old Law”) by issuing Federal Decree-Law Number 26 of 2020 (the “New Law”). The introduction of this amendment has effectuated an overhaul of…
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Fujairah Creative Freezone 1. What law established this freezone? Fujairah Emiri Decree No. 4/2007 established Fujairah Creative City (FCC). 2. What are the main internal regulations governing this freezone? The Fujairah Free Zone Authority sets the regulations governing FCC Free Zone. 3. Does this freezone have any reciprocal arrangements with…
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Doing Business in Ras Al Khaimah 2021 Enforcing Contracts Questionnaire 1.Case Study Assumptions Two domestic companies - Seller and Buyer - conclude a contract for the sale of some custom-made goods. Further to such contract, Seller agrees to sell to Buyer, and Buyer agrees to buy from Seller, custom-made furniture.…
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Autonomous Machine Testimony Smart objects have taken over our homes, workplaces and communities, and over the coming decades, the volume of legally admissible data from these devices is likely to be more. The new culture is to have voice-activated technology as digital assistants, smart appliances, and personal wearable devices. Lawyers…
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Amendments in Insolvency Law in UAE The laws concerning insolvencies of the United Arab Emirates-domiciled companies are fairly recent (the "Bankruptcy Law"). The Bankruptcy Law has been an important step forward and is influenced by features of a number of insolvency laws in other jurisdictions and international insolvency law trends.…
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Confidentiality in International Arbitration Introduction Confidentiality is the essence of trust, which is why individuals, corporations and even government bodies resort to Arbitration. Confidentiality is attractive to litigants internationally for a myriad of reasons, like freedom of making arguments which would not normally be made at a public forum, or…
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