Motei Admin

Dubai has announced a new tax on foreign banks operating in the Emirate.

Introduction Aligned with Gulf Cooperation Council countries’ initiatives for economic diversification, Dubai enacts Law No. (1) of 2024. This legislation supersedes Regulation No. (2) of 1996, introducing a contemporary framework for taxing foreign banks operating within the Emirate, including special development zones and free zones, with an exemption for entities licensed by the Dubai International […]

Dubai has announced a new tax on foreign banks operating in the Emirate. Read More »

Estate Planning 101: Securing Your Legacy and Protecting Your Loved Ones in the UAE

Articles / Motei Admin

Introduction to Estate Planning: A Necessity for All Initially devised to organize the transfer of assets upon death, it has become a critical process for individuals worldwide to secure their financial legacy. Contrary to the common misconception that estate planning is exclusive to the wealthy, it is, in fact, a valuable tool accessible to everyone.

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Corporate Tax Registration: New Timeframes and Penalties

Latest News / Motei Admin

This legislative move is a strategic endeavor to align the nation’s tax system with global compliance efforts, notably the Organization for Economic Co-operation and Development’s (OECD) Base Erosion and Profit Shifting (BEPS) initiative, and the global consensus on a minimum corporate tax rate. The introduction of CT is aimed at diversifying the UAE’s economic base,

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UAE’s Removal from FATF’s “Jurisdictions under Increased Monitoring” List

Latest News / Motei Admin

FATF’s Evaluation and Recommendations The inclusion in the grey list came as a result of the FATF’s 2020 Mutual Evaluation of the UAE , which highlighted areas requiring significant improvement to meet international AML/CFT standards. The FATF, serving as the global standard-setter in the fight against money laundering and terrorist financing, required the UAE to

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Amendments to the Federal Decree-Law No. (33) of 2021 Concerning the Regulation of Employment Relationships

Uncategorized / Motei Admin

An Overview These amendments took effect from the 1st of January 2024, and introduced pivotal modifications to the jurisdiction and authority of the Ministry of Human Resources and Emiratization (MOHRE) in adjudicating certain employment disputes. Below is a comprehensive elucidation of the salient aspects of the amendment by Decree-Law No. (20) of 2023: Jurisdictional Scope:

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Evolution of UAE Insolvency Law: Addressing Economic Dynamics and Prioritizing Rehabilitation

Articles / Motei Admin

Need for Insolvency Law: In response to the swift economic growth and increased global business presence, the UAE identified the necessity to confront challenges faced by individuals in financial distress. Preceding the enactment of this law, instances such as bounced cheques and unmet financial obligations often triggered criminal prosecutions, posing formidable barriers for individuals seeking

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Federal Law No. 41 of 2022 – Civil Personal Status

Articles / Motei Admin

The law is based on Sharia (Islamic law), which significantly influenced the legal framework regarding governing marriage, divorce, custody, and inheritance within the country. This legal approach is reflective of the country’s cultural and religious heritage, ensuring that family matters were adjudicated in accordance with Islamic traditions and values. And remains the guiding law for

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Changes to the UAE Legislative Framework on the UBO Regulations – Addressing Complex Legal Structures and Regulations on Procedures

Articles / Motei Admin

Legislative Framework i. The UAE Cabinet Resolution No. 58 of 2020 replaced by ii. The UAE Cabinet Resolution No. 109 of 2023, which became effective on 16 November 2023, and iii. The UAE Cabinet Decision No. 132 of 2023, issued on 15 December 2023 The UAE’s implementation of Cabinet Resolution No. 109 of 2023 and

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Introduction to the UAE Accountability Authority: A New Era in Financial Integrity and Governance

Latest News / Motei Admin

President His Highness Sheikh Mohamed bin Zayed Al Nahyan enacted Federal Decree-Law No. (56) of 2023, announcing the establishment of the UAE Accountability Authority, to officially replace the former Supreme Audit Institution established by Federal Law No. (8) of 2011, and all rights, assets and obligations. Applicable Legislation for the UAE Accountability Authority as defined

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New Competition Law – Federal Law No. 36 of 2023 to Address Jurisdiction and Scope of Application, Anti-competitive Conducts, Administrative and Financial Penalties

Articles / Motei Admin

This new statute, which supersedes the former Federal Law No. 4 of 2012, is designed to eradicate various limitations and practices deemed detrimental to a fair and competitive marketplace. Taking the step to updating its Competition Law enables the UAE to foster a dynamic, competitive, and fair marketplace, which is essential for its long-term economic

New Competition Law – Federal Law No. 36 of 2023 to Address Jurisdiction and Scope of Application, Anti-competitive Conducts, Administrative and Financial Penalties Read More »

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Dubai has announced a new tax on foreign banks operating in the Emirate.

Estate Planning 101: Securing Your Legacy and Protecting Your Loved Ones in the UAE

Corporate Tax Registration: New Timeframes and Penalties

UAE’s Removal from FATF’s “Jurisdictions under Increased Monitoring” List

Amendments to the Federal Decree-Law No. (33) of 2021 Concerning the Regulation of Employment Relationships

Evolution of UAE Insolvency Law: Addressing Economic Dynamics and Prioritizing Rehabilitation

Federal Law No. 41 of 2022 – Civil Personal Status

Changes to the UAE Legislative Framework on the UBO Regulations – Addressing Complex Legal Structures and Regulations on Procedures

Introduction to the UAE Accountability Authority: A New Era in Financial Integrity and Governance

New Competition Law – Federal Law No. 36 of 2023 to Address Jurisdiction and Scope of Application, Anti-competitive Conducts, Administrative and Financial Penalties

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