By Bashir Ahmed, Saurbh Kothari and Dimple Soni 7 June 2022 Last year we had reported that the Federal Tax Authority (the FTA) has started to impose penalties on entities that have failed to submit their economic substance notifications by the set deadline of 30 June 2020 for the financial period ended on 31 December 2019, and the economic substance reports by the set deadline of 31 December 2020 for the financial period ended on 31 December 2019...
Afridi & Angell is a leading full-service business law firm in the United Arab Emirates (U.A.E.). The firm, one of the oldest in the U.A.E., was established in 1975, not long after the formation of the U.A.E. in 1971.
Our history and reputation for quality legal work has made the firm an integral part of the country's legal landscape and one of the premier law firms in the region. The quality and high standards of the firm are set and preserved by the partners who have many years of experience in the U.A.E. Our lawyers are trained in international jurisdictions and bring with them international experience and the world's business languages.
We advise local, regional and international clients on a wide range of transactions and legal issues. Our commitment to practical and solution-based advice is valued and recognised by clients.
Our clients are the core focus of our business strategy. Our holistic approach means we consider client matters as a whole with a view to obtaining the best result for the client and minimising potential future risks.
As one of the most established law firms in the U.A.E., our partners boast an unrivaled range and depth of local, regional and international experience. Their innate understanding of client needs coupled with their 'hands on' approach to client matters has undoubtedly formed the basis for the firm's sustained and growing international reputation.
We pride ourselves on being multi-specialists. This versatility makes our service consistent, effective and cost-efficient.
"Afridi & Angell provides 'consistently high service' and 'a creative and solution-oriented' approach, and caters to a mix of local and international clients."
Legal 500 EMEA 2013
Year this Office was Established: 1975
Lawyers Worldwide: 30
Languages: English, Arabic, Urdu, Hindi, German, French, Sinhalese, Tamil, Gujarati, Farsi.
Areas of Practice
The new year, 2022, will be the year in which cryptocurrencies gain more legitimacy worldwide through government regulation, oversight and further acceptance. Indeed, in December 2021, the Dubai World Trade Centre announced that it will become a crypto zone and a regulator for cryptocurrencies and other virtual assets - including digital assets, products, operators and exchanges. In September 2021, the country of El Salvador officially recognized Bitcoin as legal tender. Mexico has stated that it will have its own digital currency by 2024...
Afridi & Angell Advises Thomas Cook India Group on AED149 Million Acquisition of 51% of Digiphoto Entertainment Imaging
Afridi & Angell recently advised Thomas Cook India Group (TCI), a leading global integrated travel services player, on a fast paced AED149 million (USD40.6 million) acquisition of 51 per cent stake in Digiphoto Entertainment Imaging (DEI), a UAE headquartered imaging solutions and service provider. Afridi & Angell acted as lead UAE counsel to TCI on the transaction, and advised on pre-transaction structuring and carve-out issues, the transaction documents (including a Share Purchase Agreement, Shareholders’ Agreement and other ancillary documents), anti-trust issues, as well as a restructuring of the DEI Group in the UAE in order to improve TCI’s post-acquisition control of the group...
DUBAI – Monday 14 January 2019 – Afridi & Angell is pleased to announce that Chatura Randeniya and Danielle Lobo have been admitted to the partnership, effective 1 November 2018. Chatura’s practice focuses on dispute resolution. He advises and represents clients in high value arbitrations, the DIFC Court, and works with local advocates on matters before the UAE courts. Chatura obtained an LLB from the University of Colombo, an LLM from Harvard Law School, and qualified as Attorney-at-Law of the Supreme Court of Sri Lanka. Danielle’s practice focuses on corporate and commercial law...