company setup Archives - Fichte & Co Legal

Importance of Non-Disclosure Agreements (NDA) for Startups

Dr. Laura Voda — Tue, 22 Dec 2020 02:44:28 +0000

In the current times, most startups aim at implementing innovative business ideas, new technologies, and, most probably, unicity. Whereas registering, financing, and making a startup work usually imply a plethora of things to complete, one must not oversee the legalities of it. Innovation and the uniqueness of an idea represent, from a legal standpoint, a …

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UAE Overhauls Corporate Rules and Allows 100% Foreign Ownership in Mainland Companies

Dr. Laura Voda — Tue, 24 Nov 2020 07:32:36 +0000

On November 23 2020, the UAE President, Sheikh Khalifa Bin Zayed Al Nahyan, issued a Decree amending 51 articles and introducing certain new provisions in Federal Law no. 2 of 2015 (Commercial Companies Law). This update aims at analyzing the primary impact of the Decree in the jurisdiction and its relevance for the corporate restructuring …

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RAKEZ is Now Offering 100% Ownership

Neelesh Pillai — Sun, 30 Aug 2020 03:13:24 +0000

RAKEZ OFFERS 100% FOREIGN OWNERSHIP IN MAINLAND WITH FDI COMPANY SET-UP In response to the UAE Government’s efforts to provide relief to businesses during the COVID-19 pandemic, a number of free zones have announced major relief packages including fee waivers, rent holidays, and waivers of penalties and also introduced new license packages with a reduced …

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Few Key Changes of the New Dubai Multi Commodities Centre Authority(DMCCA) Companies Regulations 2020

Neelesh Pillai — Wed, 26 Feb 2020 03:23:39 +0000

Dubai Multi Commodities Centre (DMCC) recently announced new DMCCA Company Regulations 2020, which came into effect from 2 January 2020 to further enhance the ease of registration and operation of businesses. The new Regulations have brought in some changes in the existing company law framework, increasing by this the remit of the activities undertaken by …

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New “Dubai Future District” for Future Economy

Neelesh Pillai — Mon, 24 Feb 2020 10:50:16 +0000

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of UAE and Ruler of Dubai has announced the launch of a new district combining the key commercial and financial hubs in Dubai and is dedicated to the development of the future economy under the name of ‘Dubai Future District’. The Dubai …

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News Alert: Economic Substance Requirements Guidance Issued

Dr. Laura Voda — Tue, 18 Feb 2020 09:57:08 +0000

Introduction On 11 September 2019, the UAE issued Ministerial Decision No. 215 of 2019 on the Directives for the implementation of the Economic Substance Regulations (ESR). The ESR was earlier published in April 2019 as the Cabinet of Ministers Resolution No. 31 of 2019. The Ministerial Decision of September 2019 (the “Guidance”) is served as …

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UAE Reduces the Official Fees for Trademark Registration

Neelesh Pillai — Thu, 18 Jul 2019 06:58:20 +0000

Pursuant to Cabinet Decision no. 51 of 2019, the United Arab Emirates announced a new amended fee and fine structure where in it has cancelled the fees for 102 services and reduced the charges for other services among 110 services offered by the Ministry of Economy, including those related to intellectual property matters , as …

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New Foreign Direct Investment Law (Federal Law No. 19 of 2018): Upto 100% Foreign Ownership in the UAE

Neelesh Pillai — Tue, 09 Jul 2019 10:35:18 +0000

The Government of UAE has always taken initiatives in the improvement of the economy of the country by amending the existing Law or introducing new Laws, to attract more foreign investors to the country. Among several initiatives taken by the Govt of UAE, in November last year, a law permitting 100 per cent foreign ownership …

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Do You Really Need to Rent an Office Space to Set up a Company in the UAE?

Fichte Legal — Thu, 28 Mar 2019 09:57:55 +0000

The simple answer to this question is: yes and no. The longer answer is set out in this article which explains the different options now available in the UAE to help you avoid having to rent a physical office space if you don’t really need it for your business. Onshore/Mainland Businesses If you want to …

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DIFC Entities: Are You Compliant with the New Ultimate Beneficial Ownership Regulations?

Fichte Legal — Tue, 26 Feb 2019 07:25:18 +0000

Background The Dubai International Financial Centre (DIFC), on 12 November 2018, issued the Ultimate Beneficial Ownership Regulations (“UBO Regulations”) with a deadline of 12 February 2019 to comply with its requirements. Owing to the high number of requests for clarifications, the DIFC recently issued a guidance note and organised an outreach session on 25 February …

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