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Enactment of New Companies Legal Regime in the DIFC

United Arab Emirates - November 15 2018 On 12 November 2018, the Dubai International Financial Centre (the “DIFC”) enacted several new laws, which overhaul the legal framework…

Mona B. Lemp, William M. Reichert, Zaid Abu-Shattal.

Changes to Foreign Ownership and Visa Rules Announced

United Arab Emirates - May 21 2018 At a meeting of the Cabinet of the Council of Ministers of the United Arab Emirates (“UAE”), the UAE Government decided to allow foreign investors to…

Owen E. Waft.

New UAE VAT and Tax Procedures Laws

United Arab Emirates - September 5 2017 As of 1 January 2018, value added tax (“VAT”) at the rate of 5% will be applied on a wide range of goods and services in the United Arab Emirates…

Mona B. Lemp, William M. Reichert.

DIFC Amends Laws to Comply with OECD Transparency & Exchange of Information Forum and Expands and Increases Fines for Contraventions

OECD, United Arab Emirates - July 5 2017 On 28 May 2017, the Dubai International Financial Centre Authority announced that the DIFC Laws Amendment Law, DIFC Law No. 1 of 2017 (the “New Law”)…