Legal update Archives - Fichte & Co Legal Legal Firm in Dubai Mon, 29 Jul 2024 05:36:06 +0000 en-US hourly 1 https://wordpress.org/?v=6.5.5 https://fichtelegal.arraytag.com/wp-content/uploads/2022/01/cropped-Favicon-32x32.png Legal update Archives - Fichte & Co Legal 32 32 UAE makes strides in crypto asset regulation: An analysis of the new UAE Central Bank Regulations on Stablecoins https://fichtelegal.arraytag.com/uae-makes-strides-in-crypto-asset-regulation-an-analysis-of-the-new-uae-central-bank-regulations-on-stablecoins/?utm_source=rss&utm_medium=rss&utm_campaign=uae-makes-strides-in-crypto-asset-regulation-an-analysis-of-the-new-uae-central-bank-regulations-on-stablecoins https://fichtelegal.arraytag.com/uae-makes-strides-in-crypto-asset-regulation-an-analysis-of-the-new-uae-central-bank-regulations-on-stablecoins/#respond Mon, 29 Jul 2024 05:36:06 +0000 https://fichtelegal.com/an-insight-into-the-revamped-ultimate-beneficial-ownership-regulations-in-the-uae-as-of-2024-2/ Over the past years, UAE’s resolve to be a leader in the virtual assets space has continued to strengthen. The latest development is the enactment of the Payment Token Services Regulation (the Regulations) issued by the Central Bank of UAE (CBUAE) by way of Circular No. 2/2024, to be effective in June 2025. Corresponding to …

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]]> https://fichtelegal.arraytag.com/uae-makes-strides-in-crypto-asset-regulation-an-analysis-of-the-new-uae-central-bank-regulations-on-stablecoins/feed/ 0 An insight into the revamped Ultimate Beneficial Ownership Regulations in the UAE as of 2024 https://fichtelegal.arraytag.com/an-insight-into-the-revamped-ultimate-beneficial-ownership-regulations-in-the-uae-as-of-2024/?utm_source=rss&utm_medium=rss&utm_campaign=an-insight-into-the-revamped-ultimate-beneficial-ownership-regulations-in-the-uae-as-of-2024 https://fichtelegal.arraytag.com/an-insight-into-the-revamped-ultimate-beneficial-ownership-regulations-in-the-uae-as-of-2024/#respond Tue, 11 Jun 2024 05:36:06 +0000 https://fichtelegal.com/?p=43089 A recent overhaul of the regulations concerning the determination of an Ultimate Beneficial Owner (UBO) has brought about considerable changes in the UBO determination and filing for entities in the UAE. The most significant is the ability of the Registrar to adopt a risk-based approach in the determination of the UBO which will be discussed …

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]]> https://fichtelegal.arraytag.com/an-insight-into-the-revamped-ultimate-beneficial-ownership-regulations-in-the-uae-as-of-2024/feed/ 0 Update: UAE Corporate Tax Registration Deadlines https://fichtelegal.arraytag.com/update-uae-corporate-tax-registration-deadlines/?utm_source=rss&utm_medium=rss&utm_campaign=update-uae-corporate-tax-registration-deadlines Tue, 26 Mar 2024 07:30:40 +0000 https://fichtelegal.arraytag.com/uae-coming-out-of-fatf-grey-list-a-milestone-for-business-stability-2/ The Federal Tax Authority (FTA) in a recent decision, FTA Decision No. 3 of 2024 on the Registration Timeline for Corporate Tax has provided the deadlines for registration of Corporate Tax (CT). The deadlines are based on the categorization of persons into Resident Juridical Persons, Non-Resident Juridical Persons and Natural Persons. The Decision further stipulates …

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]]> UAE Coming Out of FATF ‘Grey List’: a Milestone for Business Stability https://fichtelegal.arraytag.com/uae-coming-out-of-fatf-grey-list-a-milestone-for-business-stability/?utm_source=rss&utm_medium=rss&utm_campaign=uae-coming-out-of-fatf-grey-list-a-milestone-for-business-stability Mon, 11 Mar 2024 07:30:40 +0000 https://fichtelegal.arraytag.com/a-glance-in-the-new-insurance-law-in-the-uae-2/ In the realm of global finance, the United Arab Emirates (UAE) has long stood as a beacon of opportunity, drawing investors and businesses from around the world. Another sound reason to enhance this undeniable truth is the recent removal of the UAE from the Financial Action Task Force (FATF) Grey List [1], which can only …

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]]> A Glance in the New Insurance Law in the UAE https://fichtelegal.arraytag.com/a-glance-in-the-new-insurance-law-in-the-uae/?utm_source=rss&utm_medium=rss&utm_campaign=a-glance-in-the-new-insurance-law-in-the-uae Fri, 02 Feb 2024 04:30:40 +0000 https://fichtelegal.arraytag.com/a-new-era-for-the-shipping-sector-in-the-uae-2/ In a significant development for the insurance sector, the recently published New Insurance Law on 31 October 2023, set to be enforced from 30 November 2023, marks an important moment in the regulatory landscape of the United Arab Emirates (UAE). The main reason for this legislative update is the formalization and codification of the transfer …

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]]> Federal Decree Law No. 43 of 2023 regarding Maritime Law – Download your translation here https://fichtelegal.arraytag.com/federal-decree-law-no-43-of-2023-regarding-maritime-law-download-your-translation-here/?utm_source=rss&utm_medium=rss&utm_campaign=federal-decree-law-no-43-of-2023-regarding-maritime-law-download-your-translation-here Mon, 18 Dec 2023 06:20:40 +0000 https://fichtelegal.arraytag.com/federal-decree-law-no-43-of-2023-regarding-maritime-law-download-your-translation-here/ The Ministry of Energy and Infrastructure (MOEI) has unveiled the forthcoming Federal Decree-Law No. 43 of 2023 regarding Maritime Law (the “2023 Maritime Law”), slated to come into force from March 2024. This legislation marks a significant departure from the current maritime law, ushering in substantial modifications that will reverberate across the shipping, legal, and …

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]]> A New Era for The Shipping Sector in the UAE https://fichtelegal.arraytag.com/a-new-era-for-the-shipping-sector-in-the-uae/?utm_source=rss&utm_medium=rss&utm_campaign=a-new-era-for-the-shipping-sector-in-the-uae Wed, 22 Nov 2023 07:30:40 +0000 https://fichtelegal.arraytag.com/administrative-decision-no-2-of-2023-for-transparency-of-local-sea-container-charges-in-dubai/ A New Era for The Shipping Sector in the UAE The Ministry of Energy and Infrastructure (MOEI) has unveiled the forthcoming Federal Decree Law No. 43 of 2023 regarding Maritime Law (the “2023 Maritime Law”), slated to come into force from March 2024. This legislation marks a significant departure from the current maritime law, ushering …

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]]> Approaching Deadline: Amendments to Constitutional Documents of Mainland Companies https://fichtelegal.arraytag.com/approaching-deadline-amendments-to-constitutional-documents-of-mainland-companies/?utm_source=rss&utm_medium=rss&utm_campaign=approaching-deadline-amendments-to-constitutional-documents-of-mainland-companies Tue, 19 Oct 2021 01:49:50 +0000 https://fichtelegal.arraytag.com/approaching-deadline-amendments-to-constitutional-documents-of-mainland-companies/ The Federal Law by Decree No. 26 2020 (“Decree Law”), issued on November 23, 2020, introduced new provisions amending various aspects of the Federal Law No.2 2015 regarding Commercial Companies (“Commercial Companies Law”). The Decree Law did not only abolish the general requirement for Emirati Majority participation but also introduced new and amended provisions for …

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]]> Is the Arbitration Clause included in the General Terms and Conditions of the Insurance Policy a valid clause? https://fichtelegal.arraytag.com/arbitration-clause-included-in-the-general-terms-and-conditions-of-the-insurance-policy-a-valid-clause/?utm_source=rss&utm_medium=rss&utm_campaign=arbitration-clause-included-in-the-general-terms-and-conditions-of-the-insurance-policy-a-valid-clause Thu, 07 Oct 2021 03:26:37 +0000 https://fichtelegal.arraytag.com/arbitration-clause-included-in-the-general-terms-and-conditions-of-the-insurance-policy-a-valid-clause/ Our client approached us to assist him in filing a case against one of the well-known UAE Insurance Companies. The client complained about his insurance company refusing to cover a surgery under the medical insurance policy. The reason brought for the rejection was that the natural condition of the Insured is due to a congenital …

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]]> Covering the same Risk under Multiple Insurance Policies https://fichtelegal.arraytag.com/covering-the-same-risk-under-multiple-insurance-policies/?utm_source=rss&utm_medium=rss&utm_campaign=covering-the-same-risk-under-multiple-insurance-policies Tue, 28 Sep 2021 08:40:14 +0000 https://fichtelegal.arraytag.com/covering-the-same-risk-under-multiple-insurance-policies/ The concept of insurance depends on the participation of a group of persons, whether physical or corporate (the insured), that distribute the risks that may result from specific events. The insureds pay pre-determined contributions to the insurance company (the insurer), which undertakes, accordingly to the policies agreed, the responsibility to pay the insurance amount for …

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