FCPA Compliance and Ethics Report-Episode 174-Matt Kelly on Dodd-Frank, Uber and Upcoming Compliance Week events
The Emirate of Dubai in 2024 issued Law No. (1) of 2024 Concerning Tax on Foreign Banks Operating in the Emirate of Dubai. The Law’s passing is an essential step to clarify the applicability of separate tax laws for foreign...more
US Digital Asset Companies Achieve Licenses, Launch Products - According to a recent press release, Ripple, a U.S. digital asset infrastructure provider, announced that it has “received approval from the Dubai Financial...more
Introduction - The Dubai Court of Cassation (Court of Cassation) in Case No. 296 of 2024 vacated the decision of the Dubai Court of Appeal (Court of Appeal) in Commercial Appeal No. 2284/2023, in which the Court of Appeal...more
With certain Emirates in the UAE allowing property ownership for expats in the region, an increasing number of individuals are now buying properties and investing in other assets in the UAE. Consequently, it has become...more
In the UAE, non-citizens constitute approximately 70% of the country’s population. This is made up of residents and tourists present in the country. People arriving in the UAE for the purpose of tourism, enter on a tourist...more
The Emirate of Dubai has recently passed new amendments to the existing “Dubai Law No. 4/2018 on the Establishment of the Financial Audit Authority” (“LAW”). As per the new amendments, financial fraud and misconduct in...more
In the current world, where trade ties are vital in strengthening the economy of a country, it is often necessary to enter into legal contracts with various entities around the world. It is also necessary that these contracts...more
Affordable and safe public transport is an important requirement for the smooth functioning of daily life in any country. Dubai in particular stands out with an array of public transport available to choose from. Although the...more
In the light of reports received by the Abu Dhabi Public Prosecution regarding a lack of commitment and discipline in the performance of State dictated punitive community service, it has been held that the Courts can...more
Split or “asymmetric” arbitration clauses, commonly referred to as “unilateral option clauses” (“UOCs”), provide one party (or a group of parties, but not all the parties) with the exclusive option to elect between...more
Introduction: For expatriates living in the UAE, divorce might be a complicated process and deal with emotions. Abu Dhabi has been taking steps to address the unique challenges that expatriates face with its Law No. 14/2021...more
When investing in off-plan properties, especially in jointly owned properties in Dubai, understanding a developer's responsibility for maintenance and defect rectification post-handover is crucial. Dubai Law No. 6/2019 on the...more
Background - In February 2024, the Dubai Court of Cassation (Court of Cassation) issued a surprising decision in Case No. 821 of 2023 (Commercial), in which it upheld the Dubai Court of Appeal’s (Court of Appeal) partial...more
In a recent decision dated 29 October 2024, the Dubai Court of Cassation (Court of Cassation) in Case No. 735 of 2024 (Commercial) confirmed that a unilateral (or asymmetric) arbitration agreement—an agreement which provides...more
The UAE recently introduced a significant reform in its judicial system, with the Ministry of Justice (MoJ) announcing that travel bans are automatically lifted once legal cases are resolved. This development represents a...more
The onshore Dubai Court of Cassation (Commercial Appeal No. 735 of 2024, dated October 29, 2024) has held that a unilateral option to arbitrate, included within an asymmetrical jurisdiction clause, did not constitute a...more
Divorce is a significant aspect of family law in the UAE, governing both Muslims and non-Muslims. Previously, Federal Law No. 28 of 2005 regulated personal status matters for both Muslims and non-Muslims along with certain...more
In the UAE, Federal Decree-Law No. 41/2022 on Civil Personal Status and Abu Dhabi Law No. 14/2021 on Civil Marriage have introduced significant reforms to ensure equality between men and women, particularly in matters of...more
According to recent reports, two U.S. multinational financial technology companies have integrated Ethereum Name Service (ENS), a decentralized naming system built on the Ethereum blockchain, into their payment platforms....more
When investing in real estate, particularly in villa projects, purchasers often rely on developers and contractors to deliver homes free from defects. However, issues may arise where defects remain unresolved despite...more
Investing in off-plan properties in Dubai presents an attractive opportunity for prospective homeowners and investors alike. However, navigating this market requires vigilance and awareness of potential risks to ensure a...more
In 2021, Abu Dhabi introduced a landmark legal reform with the issuance of Law No. 14 of 2021, which introduced the concept of civil marriage in the UAE. This move signifies a progressive step towards embracing secular...more
In a recent decision dated 15 August 2024, the Dubai Court of Cassation (Court of Cassation) in Case No. 339 of 2023 (Civil) confirmed that a judgment from a foreign court may be enforced in the United Arab Emirates (UAE)...more
The DIFC Prescribed Company Regulations 2024 (New PC Regulations) were enacted on July 15, 2024. Replacing the former PC Regulations 2019 (and the 2020 and 2022 amendments thereto), the New PC Regulations aim to streamline...more
The off-plan property market in Dubai has been a magnet for investors, promising profitable returns and a vibrant real estate landscape. However, delays in the completion of off-plan properties can lead to significant...more