Things to Know about the “Early Leave” Initiative in UAE
The “Early Leave” initiative that has been launched recently by the Ministry of Human Resources and Emiratisation, in cooperation with the Emirates Identity Authority – EIDA and Citizenship, the Ministry of Foreign Affairs and International Cooperation, the General Civil Aviation Authority, and the National Emergency Crisis and Disasters Management Authority.
Impact of COVID-19 on Vessel Charters
The COVID-19 outbreak has had a considerable impact on business globally, particularly the Maritime sector.
UAE Ministry on New Specific Legislation of Insolvency of Natural Persons
This Decree-Law on the Insolvency of Natural Persons which has been issued on 29 August 2019 and supposed to come into effect in the beginning of 2020, aims at enhancing the competitiveness of the UAE by ensuring the ease of doing business, creating favourable conditions for individuals facing financial difficulties and protecting those who are …
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Everything You Need to Know about Limitation Period of Labour Cases in the UAE
To start with, the UAE labour law defines the employment contract as “any agreement for a definite or indefinite term, concluded between an employer and an employee, whereby the latter undertakes to work in the employer’s service and under his/her management and control, in return of a certain wage that the employer undertakes to pay.” …
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Few Key Changes of the New Dubai Multi Commodities Centre Authority Companies Regulations 2020
Dubai Multi Commodities Centre (DMCC) recently announced new DMCCA Company Regulations 2020, which came into effect from 2 January 2020 to further enhance the ease of registration and operation of businesses.
Everything You Need to Know about the New Joint Property Law in Dubai
Background and introduction Just recently, His Highness Sheikh Mohammed bin Rashid Al Maktoum Vice President and Prime Minister of the UAE issued Law No. (6) of 2019 pertaining to the Joint Ownership of Properties (Joint Ownership Law) in Dubai. This newly enacted law repeals Law No. (27) of 2007 concerning Jointly Owned Property in the …
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News Alert: Economic Substance Requirements Guidance Issued
Introduction On 11 September 2019, the UAE issued Ministerial Decision No. 215 of 2019 on the Directives for the implementation of the Economic Substance Regulations (ESR). The ESR was earlier published in April 2019 as the Cabinet of Ministers Resolution No. 31 of 2019.
10 things to now about the new Incoterms 2020
Published since 1936, the International Chamber of Commerce (ICC) has published a set of three-letter trading terms for the use in sale and purchase contracts. These ‘Incoterms' deal withthe obligations of the buyer and seller and consists of 11 three- letter trading terms grouped as follows:
Funding Your Start-Up In The UAE
Funding options for start-ups in the UAE are on the rise. Traditionally, most start-ups in the UAE have tended to be bootstrapped or financed by conventional lenders such as banks and financial institutions. However, over the last few years, business incubators and accelerators have flourished in the UAE, creating a conducive and cost-effective environment for …
UPDATE: New DIFC Wills and Probate Rules
The DIFC Wills and Probate Registry (WPR) has been established as an official mechanism for non-Muslims to register their wills and have it enforced through the DIFC Courts. Previously there was a lot of uncertainty with regards to the registration of wills of non-Muslims since Shari’a principles govern inheritance throughout the UAE. If an expatriate …