United Arab Emirates updates

Arbitration & ADR

ADGM Arbitration Centre and ICC MENA representative office established
  • United Arab Emirates
  • 28 September 2017

The Abu Dhabi Global Market (ADGM) has announced the establishment of the ADGM Arbitration Centre, which will include the Middle East and North Africa representative office of the International Chamber of Commerce International Court of Arbitration. The centre is forecast to be fully operational by January 2018. This marks an important development for arbitration in the region and provides users of arbitration in the Middle East with greater choice.

Judicial Committee renders first decisions under Decree 19
  • United Arab Emirates
  • 18 May 2017

Decree 19/2016 established a judicial committee tasked with resolving conflicts of jurisdiction between the Dubai courts and the Dubai International Finance Centre (DIFC) courts. Just over six months after the issuance of Decree 19/2016, the committee rendered its first decisions, which have made it clear that an arbitral award rendered onshore in Dubai cannot be enforced in the DIFC courts where proceedings in respect of the same award have been commenced before the Dubai courts.

Company & Commercial

Ministry of Economy issues waiver for amendments to LLCs' memoranda of association
  • United Arab Emirates
  • 01 May 2017

The Ministry of Economy recently issued Ministerial Resolution 694/2016, which waives the requirement for limited liability companies, joint liability companies and limited partnerships to amend their memoranda of association, as per the new Companies Law. That said, it is advisable for exempt companies to amend their memoranda of association in due course for ease of reference.

Corporate Finance/M&A

M&A transactions in the United Arab Emirates: an overview
  • United Arab Emirates
  • 23 August 2017

As a result of the economy experiencing an upswing over the past year, there was an increase in transactions and deal values in the first half of 2017. Further, because the United Arab Emirates put its plans to diversify its economy away from a dependency on oil into action, M&A activity outside the oil sector has been bolstered. In particular, there has been growth in the healthcare, education and retail sectors.

Employment & Benefits

Contributed by Pinsent Masons
Labour law modernisation efforts continue
  • United Arab Emirates
  • 20 March 2019

After a busy 12 months for the development of labour laws in the United Arab Emirates, the authorities look set to continue to focus on modernisation efforts in 2019. The reforms focus on, among other things, employment law, gender equality and multiculturalism, with the authorities announcing 2019 as the 'Year of Tolerance'.

Labour Law – recap of 2018 and look ahead at 'Year of Tolerance'
  • United Arab Emirates
  • 20 February 2019

The UAE authorities have been focusing on the development and modernisation of the employment law landscape over the past 12 months and look set to continue to do so in 2019. Of particular note is that 2019 has been declared the 'Year of Tolerance', with a particular focus on establishing the United Arab Emirates as a global reference point for a tolerant culture. Further, the authorities are expected to continue to consult on legislation to support women in the workplace in the short to medium term.

Abu Dhabi launches fast-track labour disputes court
  • United Arab Emirates
  • 06 February 2019

In collaboration with the courts, the Abu Dhabi Ministry of Human Resources and Emiratisation recently launched a summary court to complement the One Day Labour Court. The new court is designed to speed up the process of litigating labour-related matters, including issues relating to the return of a passport or an emirates ID card, health insurance, accommodation and the cancellation of work visas. However, this fast-track system is designed to consider straightforward disputes only.

VAT and employee benefits
  • United Arab Emirates
  • 30 January 2019

Non-cash employee benefits can create a value added tax (VAT) headache for businesses. Even fully taxable businesses in the United Arab Emirates may find that VAT recovery is blocked for certain activities. Further, even if input VAT is recoverable on the cost of the benefit, providing it to employees may trigger an obligation to account for VAT on the deemed supply of the benefit to the employee. For many benefits, the VAT treatment will vary depending on the circumstances.

DIFC authority proposes sweeping changes to Employment Law
  • United Arab Emirates
  • 21 November 2018

The Dubai International Financial Centre (DIFC) has been reviewing and undertaking consultation on an entirely new Employment Law throughout most of 2018. The proposed amendments are likely to have a significant impact on key elements of the existing Employment Law and on employment relationships within the DIFC in general.

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