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Expansion of DIFC Prescribed Company Regime

United Arab Emirates - November 18 2022 The Dubai International Financial Centre (“DIFC”) initially introduced the DIFC Prescribed Company regime in 2019, providing investors options to use…

Sundus Khan

New Cabinet Resolution clarifying the legal framework of Mainland Single Shareholder Companies and the potential future tax impact

United Arab Emirates - September 20 2022 Cabinet Resolution No. 77 of 2022 on Limited Liability Companies (“Cabinet Resolution”) came into effect on 16 August 2022 the provisions of which…

Sonia Dukes, Marwan Abdel Hamid

Single Family Office - Dubai World Trade Centre Free Zone

United Arab Emirates - June 29 2022 The Dubai World Trade Centre Authority (“DWTCA”) recently issued Circular No 12 concerning the Rules and Regulations Regarding Single Family Office…

Bilal Snaineh, Sundus Khan

New UAE Companies Law - Confirmation of Relaxation of Foreign Ownership Restrictions

United Arab Emirates - November 30 2021 As part of the substantial legal reforms in the UAE which were recently announced, the UAE President, His Highness Sheikh Khalifa Bin Zayed Al Nahyan…

Marwan Abdel Hamid

Relaxation of Foreign Ownership Restrictions: Lists of Approved Activities

United Arab Emirates - July 20 2021 The UAE President, His Highness Sheikh Khalifa Bin Zayed Al Nahyan, issued on 27 September 2020 the Federal Decree promulgating Law No. 26 of 2020…