Content Types: ArticleRegions & Countries: United Arab EmiratesIndustries: All
In a very much positive and long awaited step, the UAE Ministry of Economy has just reduced the trademark registration fees. According to Ministerial Decree No. (51) of 2019 with respect to the fees of the Ministry’s Services (“Decree”), the reduction of the fees is mainly for the registration fees, which has been reduced up to 33% of the current registration fees (AED 6,700 instead of AED 10,000). The reduction does not affect the filing or the...
Content Types: ArticleRegions & Countries: United Arab EmiratesIndustries: Banking & FinanceServices: Legal
The DIFC has introduced a new Insolvency Law (Law No. 1 of 2019) as a means of enhancing and facilitating a more efficient and effective bankruptcy regime within the free zone. The new law was enacted on 30 May 2019 and came into force on 6 June 2019.
Content Types: ArticleRegions & Countries: United Arab EmiratesServices: Employment & Immigration
Following conflicting media reports about the UAE government’s long-term residence program, the General Directorate of Residency and Foreign Affairs has clarified in a press conference that the Golden Residency is actually a reference to the 10-year residence permit introduced in February 2019.
Content Types: ArticleRegions & Countries: United Arab EmiratesIndustries: Real Estate & ConstructionBanking & Finance
In August 2017, the Dubai Financial Services Authority (“DFSA”) became the first regulator in the GCC to launch a regulatory framework for loan and investment based crowdfunding platforms. The DFSA has again cemented its position at the forefront of the evolving financial regulatory landscape by announcing the expansion of its current crowdfunding regime to permit, from 1 July 2019, property investment crowdfunding platforms (“PICPs”).
Content Types: ArticleRegions & Countries: United Arab EmiratesChinaIndustries: Media & Entertainment
The Lebanese film “Capernaum” is showing the Arab film industry the opportunities that lie in China. So far, it has grossed USD 53M at the Chinese box office, 73% of its USD 72M global take, making it the most commercially successful Arab film in history. There are lessons to be learnt from this success.
Content Types: ArticleRegions & Countries: United Arab EmiratesServices: Legal
On 6 September, 2016 Resolution No. 536 concerning the Regulations Relating to the Sale or Lease of off-plan Real Property Units was implemented by the Council of Ministers (‘Wafi Law’) along with a number of implementing regulations (‘Implementing Regulations’)