Dubai Family Ownership of Common Property Law
Afridi & Angell, September 2020
On 13 August 2020, the Ruler of Dubai issued Law 9 of 2020 to regulate family ownership of common property in the Emirate of Dubai (the Law). The Law aims to establish a legal framework for family ownership of common property in Dubai and to facilitate its transmission among successive generations. This concept of undivided family assets introduced by the Law also exists in other jurisdictions. There are many family run businesses in Dubai...
UAE Foreign Direct Investment Law vs GCC Customs Exemption
Afridi & Angell, August 2020
As reported in our inBrief of 15 April 2020, Federal Decree-Law 19 of 2018 on Foreign Direct Investment (the FDI Law) permits majority foreign investment in certain business sectors and activities. Although majority ownership is attractive, it is not the only factor that a potential foreign direct investor should consider. One additional factor is whether the proposed business would qualify for the 5% GCC customs duty exemption that is discussed below...
DMCC: Expanding the Scope of a Service License
Afridi & Angell, May 2020
A DMCC licensed company holding a valid service license (with one or more of the Eligible Service Activities (identified below)) can apply to the DMCC for a no objection certificate (NOC) to operate/conduct business onshore (i.e. in mainland Dubai outside of the boundaries of the DMCC free zone). The NOC, in itself, is not sufficient to operate onshore. The applicant company will also be required to obtain a permit from the local licensing authority (i.e...
• Co-author of Doing Business in the United Arab Emirates 2015/2016, PLC Multi-Jurisdictional Guides
• Co-author of Managers' Liability in UAE Limited Liability Companies, India Business Law Journal July/August 2015
• UAE Limited Liability Companies, IFLR, April 2011
• New law regulates steps for contract termination, Emirates Business 24/7 (May 27, 2009) (co-author)