Law on Supreme Legislation Committee in Dubai Dubai has introduced Law No. (14) of 2024, significantly reshaping the structure, operations, and responsibilities of the Supreme Legislation Committee (SLC) and its General Secretariat. The Law replaces Decree No. (23) of 2014, Executive Council Resolution No. (12) of 2014, reinforcing Dubai's dedication…
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Singapore’s Enhanced Corporate Service Provider and Company Laws On July 2, 2024, Singapore’s Parliament enacted two significant pieces of legislation the Corporate Service Providers Bill (CSP Bill) and the Companies and Limited Liability Partnerships (Miscellaneous Amendments) Bill (CLLPMA Bill) designed to enhance the country's regulatory framework. These laws aim to…
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China's Revised Company Law China’s new Company Law, effective July 1, 2024, represents a substantial overhaul of corporate governance and shareholder rights within the country. Originally promulgated in December 1993 and updated significantly in 2005 and again in 2018, the recent amendments introduce stricter regulations on capitalization, enhance transparency, and…
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Companies Law in Saudi Arabia Saudi Arabia's Council of Ministers approved the long-awaited New Companies Law, which marks a significant shift in the Kingdom's regulatory landscape. Enacted through Cabinet Resolution No. 678 and ratified by Royal Decree No. (M/132), this new legislation aims to support Saudi Vision 2030 by modernizing…
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UAE’s new Decree to Regulate Public and Private Partnership The Ministry of Finance in the UAE recently announced a pivotal development with the issuance of Federal Decree-Law No. 12 of 2023, focusing on public-private partnerships (PPPs). This legislation, effective from December 1, 2023, lays down the groundwork for collaborations between…
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Dubai World Central Freezone 1. What law established this freezone? Dubai World Central (DWC) freezone was established under Dubai Law No. 8/2006, amended by Dubai Law No. 10/2015. 2. What are the main internal regulations governing this freezone? DWC is regulated by the DWC Free Zone and Administration Rules and…
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Setting Up a Foundation in the UAE “Reliable structure needs a strong foundation and strong foundation requires investment” ― Guru Z.S. Gill UAE Foundations are an integral part of the country’s wealth management system. It is an independent legal entity. Foundations are usually created to protect the desires of the Founder…
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Fujairah Free Zone 1. What law established this free zone? Fujairah Free Zone was established by Emiri Decree on 28 November 1987 and is located next to the Port of Fujairah which offers total unique access to all Arabian Gulf Ports, the Red Sea, India and Pakistan. 2. What are…
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Dubai Production City Freezone 2022 1. What law established this freezone? This freezone was established by Dubai Law No. 1/2000 issued on 29 January 2000. 2. What are the main internal regulations governing this freezone? The regulations governing the Dubai Creative Clusters (DCC) were the Dubai Technology and Media Free…
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Dubai Science Park City Freezone 1. What law established this freezone? This freezone was established by Dubai Law No. 1/2000 issued on 29 January 2000. 2. What are the main internal regulations governing this freezone? The regulations governing the Dubai Creative Clusters (DCC) were the Dubai Technology and Media Free Zone Companies…
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Economic and Fraud Provisions in the Middle East “There is one and only one social responsibility of business – to use its resources and engage in activities designed to increase its profits so long as it stays within the rules of the game, which is to say, engages in open…
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Ajman Freezone Authority 1. What law established this freezone? The Ajman Free Zone was established in 1988 and was granted autonomous status in 1996, by the Ajman Emiri Decree No. 3/1996. 2. What are the main internal regulations governing this freezone? The Ajman Free Zone Authority has issued an "Integrated…
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Incorporation of a Business (Legal Impediments) Introduction The formal method of forming a corporation or a company is called incorporation. The resulting legal body, a corporation, is responsible for separating the firm's assets and profits from its owners and investors. Corporations can be formed in virtually every country on the…
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UBO Disclosure Requirements- UAE In recent years, counter-fraud, money laundering and terrorism funding have been the regulator's highest priority. Fraudulent parties conceal their service using offshore accounts, and authorities report fraudulent transacts routinely at fake emails, PO boxes or private residences. This term has taken on an increasingly significant role…
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