Introduction: In commercial transactions, the process of recovering debts owed by companies may sometimes necessitate legal intervention. Under Federal Decree-Law No. 42/2022 on Civil Procedure Law, specific procedures are outlined for the issuance of execution orders against corporate debtors. Understanding these procedures is important for creditors seeking to enforce their rights within the bounds of the law.   Issuance of Detention Orders: According to Article 319 of the Civil Procedure Law, the execution judge has the authority to issue an order to imprison the debtor upon the reques ..read more

Introduction: In the UAE, community living is a common lifestyle choice, encouraging a sense of togetherness and shared experiences. However, this closeness to neighbors can sometimes lead to challenges, especially concerning the safeguarding of privacy and the peaceful enjoyment of one’s property. Fortunately, UAE laws provide mechanisms to safeguard individuals from privacy violations and nuisances caused by neighbours. Understanding these legal provisions is important for residents and citizens to effectively address such issues when they arise.   Rights and Responsibilities of Propert ..read more

Introduction: Air travel has become an indispensable part of modern-day life, offering convenience and efficiency for millions of passengers worldwide. However, with this convenience comes the responsibility of ensuring the safety and protection of passengers’ rights. Under Federal Decree-Law No. 50/2022, also known as the Commercial Transactions Law, specific provisions are outlined to safeguard the rights of air passengers and provide legal remedies in case of any disputes or incidents during air transport.   Understanding Air Transport: Article 353 of the Commercial Transactions Law de ..read more

Introduction: The Federal Decree-Law No. 14/2018 on the Central Bank and the Organisation of Financial Institutions and Activities, along with its recent amendments outlined in Federal Decree-Law No. 54/2023, has introduced significant changes impacting both investors and banks. Among these amendments are revisions to key definitions and regulations, as well as the introduction of new provisions aimed at enhancing customer protection and financial infrastructure. Understanding and adapting to these changes present various challenges for investors in the banking sector.   Revisions to Defi ..read more

In recent years, the UAE has taken significant steps to enhance transparency and combat financial crimes within its business landscape. Central to these efforts is the identification and regulation of Ultimate Beneficial Owners (UBOs) of businesses operating within the UAE. Cabinet Decisions No. 109/2023 and No. 132/2023 provide important guidelines and penalties concerning the Real Beneficiary Procedures, shedding light on the concept of UBOs and their importance in the UAE business environment.   Scope and Objective of the Cabinet Decision No. 109/2023: Cabinet Decision No. 109/2023 in ..read more

Introduction: In recent years, the world has witnessed rapid growth in the popularity and adoption of virtual assets, including cryptocurrencies, non-fungible tokens (NFTs), and various other digital assets. With this rise, however, comes the demanding need for robust regulation to safeguard investors and ensure the integrity of financial markets. In response to this imperative, the UAE has taken a significant step forward with Cabinet Decision No. 111/2022, aimed at regulating virtual assets and combating the use of unlicensed Virtual Asset Service Providers (VASPs) to safeguard investors’ in ..read more

Introduction: UAE introduces Federal Decree-Law No. 42/2023 to Combat Commercial Fraud, repealing Federal Law No. 19/2016, and emphasizing a comprehensive legal framework. The new law aims to protect consumers, preserve goods’ integrity, and promote fair trade practices in the UAE. Article 1 of the Federal Decree-Law No. 42/2023, describes the term Adulterated Goods, Spoiled Goods, and Counterfeit Goods. Adulterated Goods: Goods that have changed, resulting in a loss of material or moral value, either through addition, reduction, or alteration in various aspects. Spoiled Goods: Goods that are ..read more

Introduction: The Ministry of Economy in the UAE has recently introduced a comprehensive list of violations under Cabinet Decision No. 66/2023 concerning the Executive Regulation of Federal Law No. 15/2020 on Consumer Protection. Federal Law No. 15/2020 regarding Consumer Protection has further amended some provisions through Federal Decree Law No. 5 of 2023. Cabinet Decision No. 66/2023, serving as the Executive Regulation of Federal Law No. 15/2020 on Consumer Protection in the UAE, outlines measures to safeguard consumer rights and regulate supplier responsibilities. It mandates transparent ..read more

Introduction: The liquidation of a company is a pivotal process governed by legal regulations in the UAE. Understanding the intricacies of liquidation proceedings is essential for stakeholders involved in company dissolution. Federal Decree-Law No. 32/2021 on Commercial Companies defines the framework for liquidating companies in the UAE, providing clarity on procedures, responsibilities, and liabilities.   Reasons for Termination of Companies: Article 302 of the Federal Decree-Law outlines general reasons for company dissolution, including term expiration, objective termination, asset lo ..read more

Introduction: The Federal Decree-Law No. 47/2022 on the Taxation of Corporations and Businesses (Corporate Tax Law), establishes the legislative framework for imposing federal tax on corporations and business profits in the UAE. This article aims to provide an overview of the implications of the Corporate Tax Law on natural persons, outlining key considerations, exemptions, and the overall tax landscape. The Federal Tax Authority (FTA) published a comprehensive guide for the corporate tax guidance CTGRNP1: registration of natural persons, the corporate tax guide provides further explanation on ..read more