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Dubai Courts Pioneers a New Era in Judgement Enforcement

The integration of digital technologies to address pain points of the end-to-end process of execution of Civil Judgments in Dubai includes: Digital Writ of Execution Seal: Eliminates the need for physical presence, allowing proceedings to be initiated online. Disclosure Platform: Enables enforcement judges to directly access information on a respondent’s assets, facilitating swift asset seizure […]

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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

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Corporate Tax Registration: New Timeframes and Penalties

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

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

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 Law Encouraging Private Sector to Participate in Strategic Project – Public-Private Partnerships (PPP)

Enacted on December 1, 2023, this law is a strategic initiative to foster closer collaboration between the public and private sectors. It is designed to attract private sector investment in federal government projects that hold substantial social and economic value, thereby enabling the government to execute strategic projects more efficiently. The Federal Law No. 12

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Understanding the New UAE Labor Laws: The Legalities of Hiring Domestic Workers

Navigating the Complexities of Domestic Worker Employment in the UAE In the rapidly evolving landscape of the United Arab Emirates (UAE) labor law, a significant shift has occurred with the introduction of Federal Decree Law No. 21 of 2023 Concerning Domestic Workers. This amendment, which took effect in September 2023, has tightened regulations to protect

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The Establishment of the General Commercial Gaming Regulatory Authority in the UAE

The United Arab Emirates (UAE), in a landmark move to enhance its tourism and diversify its economy, has announced the creation of the General Commercial Gaming Regulatory Authority (GCGRA). This initiative heralds a significant shift from the UAE’s traditional cultural stance on gaming, driven by the desire to attract international tourists and investments while adapting

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Unemployment Insurance Scheme – Great Initiative by UAE Government

This initiative is a significant stride towards ensuring equal employment market opportunities in a country that boasts stable economic growth and ambitious future planning, demanding a motivated and skilled workforce to achieve its goals. In 2020, the UAE National Bureau of Statistics (NBS) estimated that the country had 6.3 million actively employed individuals, comprising citizens

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