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UAE Introduces New Data Law

The United Arab Emirates (“UAE”) introduces a new data law as part of the“Projects of the 50” – a series of initiatives the UAE has planned for the next50 years to boost the country’s economy. Background Currently, data privacy in…

The Amendment Of Uae’sforeign Direct Investmentlaw

The United Arab Emirates (the “UAE”) government has broadened foreigninvestment opportunities in revising its long-established foreign ownershiprestriction. The Amendments According to Article 10 of the Federal Law No. 2 of 2015 on Commercial Companies Law (the“CCL”), UAE companies must have…

Dubai Issues Decree Reforming Its arbitration Centres

The Government of Dubai issues Decree No. (34) of Year 2021 Concerningthe Dubai International Arbitration Centre (“DIAC”) effectively abolishing theEmirates Maritime Arbitration Centre (“EMAC”) and the Dubai InternationalFinancial Centre Arbitration Institute (“DAI”). Introduction Issued on the 14th of September 2021,…

UAE’s Aml Committee Adoptsnew Regulatory Framework Forvirtual Assets

As part of the United Arab Emirates’ (“UAE”) efforts in combatting AntiMoney Laundering (“AML”) and Terrorist Financing (“TF”), UAE’s AMLCommittee announces their adoption of a new regulatory frameworkspecifically for virtual assets. Background In mitigating the risk of money laundering and…

UAE Securities And Commoditiesauthority’s New Rulebook

Following the implementation of the new Rulebook by the United ArabEmirates’ (“UAE”) Securities and Commodities Authority (“SCA”), severalamendments were made, for example to its licensing regime and applicationprocesses and requirements. Rulebook Under the Board of Directors’ Decision No. (13) of…

The Launch Of The DFSA’ sinvestment Token Regulatoryframework

The first phase of the DFSA’s Digital Assets regime has commenced as theDubai Financial Services Authority (“DFSA”) has announced the launch ofits regulatory framework specifically for Investment Tokens (the“Framework”) As per the Framework, Investment Tokens are either Security or Derivative…

The UAE’s New Labour Law: Federal Law No. 33 Of 2021

On the 15th of November 2021, the United Arab Emirates’ (“UAE”) Ministryof Human Resources and Emiratisation (“MOHRE”) has announced a newdecree law to regulate labour relations. The first major amendment eversince the establishment of the first UAE labour law. Background…

Corporate Governance Accordingto The Amended Commercialcompanies Law

With the publication of Federal Law by Decree No. 26 of 2020 (the“Amending Law”), significant changes have been introduced concerningcorporate governance and compliance requiring onshore Limited LiabilityCompanies (“LLC(s)”), also known as mainland LLCs, to consider reviewingtheir constitutional documents Federal Law…