India- UAE trade pact I do believe that international trade agreements benefit both nations, always. Phil Knight India - UAE have agreed on a Comprehensive Economic Partnership Agreement. (CEPA) is the most significant bilateral trade pact between the two largest economies. The main objective of this agreement is to bring…
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Enforcing Foreign Judgments in Bahrain “To invoke alien law when it agrees with one's own thinking, and ignore it otherwise, is not reasoned decision making, but sophistry.” ― Antonin Scalia, The enforcement of foreign judgments is the acknowledgment and enforcement in one jurisdiction of judgments delivered in another/foreign jurisdiction. Foreign judgments may be acknowledged based on bilateral or multilateral treaties or understandings,…
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Cheque Law in Kuwait A negotiable instrument is a document recorded as a hard copy that represents an unconditional promise to pay a specific amount of money determined upon the interest of its owner. The emergence of new technology influences the business world also; it takes up new modes which…
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Arbitration Framework at Abu Dhabi Global Markets When will mankind be convinced and agree to settle their difficulties by arbitration? Benjamin Franklin The Abu Dhabi Global Market (ADGM) launched its arbitration centre in 2018. The ADGM arbitration centre is equipped to resolve disputes between parties through mediation or arbitration. The…
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Abu Dhabi's Strata Law and its Implications “Real estate cannot be lost or stolen, nor can it be carried away. Purchased with common sense, paid for in full, and managed with reasonable care, it is about the safest investment in the world.” - Franklin D. Roosevelt The strata law means…
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A closer look at the income tax policy on earnings through non-conventional means in India Income tax planning becomes pivotal to achieve one’s financial goals, and while some find it monotonous, it is necessary to understand the nuances involved, along with the numerous prevailing tax-saving instruments. According to the data…
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Sohar Free Zone What law established this free zone? A Ministerial Committee to was set up by His Majesty Sultan Qaboos bin Said establish a new Port in SOHAR in 1995 and to develop the Port of Salalah, formerly called Raysut. The Government of Oman and Port of Rotterdam signed…
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TECOM 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 Regulations…
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The impact of Pandora papers Pandora paper is a journalistic investigation based on a major leak of about 12 million archives revealing the uncovered wealth, illegal tax avoidance and money laundering by some of the world’s richest and most influential people. It is the cooperation of more than 600 journalists…
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Ummal Quwain Freezone 1. What law established this freezone? The law establishing this freezone are as follows: Ummal Quwain Emiri Decree No. 2/1987 concerning the Incorporation of a Freezone in Ahmed Bin Rashid Port; Ummal Quwain Free Trade Zone Ordinance 1987; Ummal Quwain Law No. 1/2013 concerning ports, Customs, and…
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The Legality of Bitcoins and other Cryptocurrencies The terms Bitcoin & Cryptocurrency remained unfamiliar to the rest of the globe before Satoshi Nakamoto, the unidentified founder of Bitcoin, revealed the Electronic Cash System in late 2008. The idea swept the world's markets like wildfire, and investors all over the world…
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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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Federal Decree-Law Number 16 of 2021 on Factoring and Transfer of Civil Accounts Receivable The Government of the United Arab Emirates has recently brought in the Federal Decree-Law Number 16 of 2021 to deal with issues regarding the Factoring and Transfer of Accounts Receivable within the country. The New Law…
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Changes in Bankruptcy law in Australia post 2021 A legal process declaring that one is unable to pay his debts is called Bankruptcy. It can give relief from paying from most of the debts. In Australia, personal insolvency is regulated by The Bankruptcy Act, The Bankruptcy Regulations 2021 and the Insolvency Practice Rules…
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