Dubai: Changes to Law Allowing Developers to Terminate Off-Plan Sales Contracts

- the Sharjah Court of Appeal sets limits

The amendments introduce equal treatment for male and female employees in respect of compensation and parental leave ...

The Law also aims to provide a legal framework for maintaining continuity of family ownership and avoiding division of businesses amongst family members ...

By Charles Laubach and Saurbh Kothari, Afridi & Angell

The amendments bring about some important changes to how matters will be litigated in the UAE courts.

This major development will have significant impact on businesses that provide goods and services to governmental and semi-governmental entities.

The positive list contains 122 activities in the agricultural, manufacturing and services sectors.

Electronic signatures were not common before the Covid-19 lockdown, but the legal framework is well established.

The regulations provide for more clarity and flexibility for businesses wishing to conduct business in and from the DMCC.

The UAE has introduced measures that employers in the private sector may progressively resort to during the current period.

Significant responsibility for ensuring compliance with directives to stop the spread of Covid-19 has been delegated to the law enforcement authorities of the UAE.

Noteworthy measures that have been implemented by various UAE authorities to date.

A note on recent experiences in obtaining interim orders from the Dubai Courts.

The New Law is a welcome development which may stimulate the property market in the DIFC.

The Amendment introduces a new mandatory workplace savings scheme, which replaces the current end-of- service gratuity regime.

The new guidance is helpful for businesses in the DIFC, but significant questions still remain.

Seven things you need to know.

Businesses licensed in the UAE should fast track an assessment to determine if they are subject to the regulations.

Thirteen topics covered in the guidance that may be of interest to businesses affected by the regulations.

The New Law is an important development for Dubai as most real estate is held by way of property owned in common.

The changes will result in the establishment of new funds and attract more entrepreneurs and investors to the UAE.

The advent of AML and ATF guidance is a welcome step for businesses in the UAE.

The DIFC Authority has proposed the enactment of legislation (the Proposed Law) to replace its current Data Protection Law.

The rules are a response to the UAE being put on the EU's blacklist of non-cooperative tax jurisdictions.

The New Law introduces many welcomed features and is a step forward in maintaining the UAE’s position as a world leading trade hub.

The new law will directly affect almost 24,000 employees based in the DIFC.

Despite the limited number of filings and the dearth of decisions, parties conducting M&A in or from the UAE should consider the impact of the competition regime.

The new AML Law has been shaped by international AML standards and provides several mechanisms to combat money-laundering.

A new law requires businesses that use information and communication technology for processing health data to ensure its confidentiality, accuracy and validity.

It is hoped that the new programme will enable defence contractors to identify more accessible opportunities to generate offset credits.

Insurance and reinsurance providers should review the resolution and the list of violations to ensure their compliance.

While the changes are welcome, they put pressure on litigants to plead their cases within relatively short time periods ...

In a welcome development, the new law introduces long-term residency visas for four categories of persons.

A new agreement could make the UAE a much more attractive place to establish funds.

The amendments are designed to make the UAE's Penal Code consistent with other recent federal legislation and current federal enforcement policies.

For decades, banks and other counterparties in the UAE have obtained financial services from foreign financial institutions. Industry bodies, such as the International Swaps and Derivatives Association (ISDA), the International Capital Market Association and the International Securities Lending Association, have ...

The new law introduces subtle but important changes to the AML landscape in the UAE.

Majority foreign ownership is not yet a reality, but the framework is now in place.

Afridi & Angell successfully defended an anti-suit injunction, an application to exclude evidence and obtained a document production order.

The Rental Good Conduct Certificate service is a first-of-its-kind initiative in the world.

The licence provides access to a Professional Services Support Programme aimed at allowing entrepreneurs entry to a community of businesses, financial services and professional advisers.

The Decree provides that appeals to the Court of Cassation must be filed within 60 days of the judgment of the Court of Appeal.

Whether buyers are looking to expand their real estate portfolio or buyers are simply looking to find their ideal home, great deals can be found in Dubai’s off-plan real estate sector ...

The approval of the long-awaited law by the Federal National Council was announced in March this year.

Abu Dhabi has introduced new rules governing the functioning of the Emirate’s judiciary.

Great deals can be found in Dubai’s off-plan real estate sector, but it is critical that prospective buyers do their homework ...

UAE Federal Law 20 of 2016 introduced a new regime for registering a pledge over moveable assets which are pledged as security for the repayment of a debt ...

A Designated Zone is required to be a specific fenced area with security measures and Customs controls in place ...

New requirement will be introduced shortly ...

How you handle a dawn raid will have a significant impact on the discussions and negotiations that are sure to follow.

The UAE Ministry of Finance has announced the Executive Regulation for the Federal Decree-Law ...

Dubai is the fastest growing healthcare market within the GCC and is becoming an increasingly attractive sector for investors. Afridi & Angell explain the key drivers and options available to investors ...

The United Arab Emirates Federal Tax Authority has commenced accepting registrations for Value Added Tax through its online portal ....

The UAE has issued substantive law on Value Added Tax (VAT) and Excise Tax ...

The private joint stock company is one of the forms of company contemplated by UAE Federal Law No. 2 of 2015 concerning commercial companies ...

Under the VAT regime, businesses will be collecting taxes on behalf of the government and will file tax returns accordingly ...

Centre for Amicable Settlement of Disputes can no longer mediate disputes when a bank is a party to such dispute ....

The UAE has embarked on an ambitious undertaking by introducing new business friendly mutual funds regulations to stimulate the UAE funds industry and provide the foundation for a more developed regional funds regime in the Gulf Cooperation Council ...

The new Pledge Law of the UAE was enacted on 12 December 2016 ...

The election of Mr. Donald J. Trump as President of the United States has resulted in much consideration by corporates of existing strategies with respect to Iran...

Two Cabinet Decisions have been issued which provide guidance on the implementation of the Competition Law, particularly on market share thresholds and on small and medium establishments.

The UAE Penal Code was amended to introduce the concept of criminal liability for arbitrators, experts, and translators who issue dishonest and partial decisions and opinions.

Perhaps the most important new feature of the new Law is the introduction of a regime that allows for protection and reorganization of distressed businesses ...

The momentum for doing business in Iran is expected to increase at an even greater pace after the November US elections.

The Emirates Insurance Authority prepared a draft regulation concerning marketing of insurance policies by banks in the UAE.

The Ministerial Decision No. (272) of 2016 addresses the scope of Article 104 of Federal Law No.2 of 2015, stating which articles relating to public and private joint stock companies apply to limited liability companies.

With the easing of sanctions against Iran, vast business opportunities have opened up. The challenge is whether and how to participate in such a potentially phenomenal market without taking undue risks.

The legal landscape for doing business in Iran has changed significantly since the easing of certain Iran related sanctions.

The legal landscape for doing business in Iran has changed significantly in the past seven months ...

Updates on the possibility of a Value Added Tax, the new PPP Law and other developments which companies doing business in the UAE should know

A number of recently announced initiatives could introduce potentially significant changes to the rules governing the workforce in the UAE.

Aside from its central location and its world class facilities, the Dubai World Trade Centre Free Zone offers a wide range of services for companies.

Insights into the new Commercial Companies Law and relevant corporate updates which can help companies conduct business in the UAE, particularly in Dubai

We highlight the changes which the new UAE Commercial Companies Law (Federal Law No.2 of 2015) introduces.

With the opening of the Wills and Probate Registry in the DIFC, it is now possible to register a will in Dubai and have a high degree of confidence that it will be enforced.

The Dubai Financial Services Authority (DFSA) imposes its largest fine to date on Deutsche Back AG Dubai (DIFC Branch), sending a strong signal that DFSA is both independent and unafraid to take on well-resourced opponents.

Effective 15 June 2015, the Abu Dhabi Global Market began accepting license applications from existing non-financial service tenants of Al Maryah Island that have either a private limited or branch office legal structure.

Companies in the Emirate of Dubai have recently been receiving questionnaires requesting detailed information about their business, including financial information...

Strategically located between Europe, Africa and Asia, the United Arab Emirates has become a hub for trade and commerce throughout the world ...

Federal Law No. 4 of 2012 on the regulation of competition (the “Competition Law”) introduced a regime for the regulation of anti- competitive behavior in the UAE which previously did not exist ...