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Hani Naja

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In brief On 20 September 2021, the UAE has published Federal Decree Law No. 46 of 2021 on electronic transactions and trust services (the “Electronic Transactions Law”) which repeals Federal Law No. 1 of 2006 (the “Previous Law”) and reinforces the UAE’s digital transformation strategy and commitment towards a digital economy. The Electronic Transactions Law will come into effect on 2 January 2022, however, businesses will be given a one-year grace period for compliance. Under…

In brief The long awaited Federal Law No. 15 of 2020 on Consumer Protection (the Consumer Protection Law) has been issued on 10 November 2020 and is a major update which aims to revamp and repeal the old UAE consumer protection laws, being Federal Law No. 24 of 2006 (the “Old Law”). Due to the rapid rise of e-commerce globally, including in the UAE, the Consumer Protection Law now acknowledges and captures e-commerce service providers.…

In brief Earlier last week, Sheikh Khalifa bin Zayed Al Nahyan, President of the United Arab Emirates (UAE), issued a decree introducing a number of fundamental changes to the UAE Commercial Companies Law (CCL Amendment) and to the UAE’s approach towards foreign direct investment (FDI) in general. The CCL Amendment adopted a new general rule of, in principle, allowing foreign investors to fully own certain types of companies in the mainland of the UAE. The…

In brief The United Arab Emirates (UAE) recently issued Cabinet Resolution No. 58 of 2020 on the Regulation of the Procedures of the Real Beneficiary (the Resolution), which came into effect on 28 August 2020 and replaced Cabinet Resolution No. 34 of 2020 issued earlier this year. The Resolution aims to introduce the requirement for a beneficial ownership register in the UAE mainland and unify the minimum disclosure requirements for corporate entities incorporated in the…

In brief The UAE Federal Law No. 18 of 1981 regulating Commercial Agencies (Law) was amended for the fourth time on 28 May 2020 by Federal Law No. 11 of 2020 (the Amendment). The last amendment had taken place in 2010. The Amendment granted, for the first time, the right for companies incorporated in the United Arab Emirates (UAE) that are not 100% owned by UAE nationals, namely public joint-stock companies with at least 51%…