The Dubai Multi Commodities Centre (DMCC) Authority has recently issued new rules and regulations (the New Regulations) to aid the process of incorporation of companies and doing business in the DMCC more generally. The New Regulations have come to effect as of 2 January 2020.With the New Regulations, the provisions of the UAE Federal Commercial Companies Law No. 2 of 2015 no longer apply to DMCC Companies, indicating that the New Regulations are intended to…
Leading global law firm Baker McKenzie Habib Al Mulla has advised Mizzen, a wholly owned subsidiary of Seddiqi Holding, on its joint venture with Gentle Monster, the South Korean curated eyewear brand, and the launch of its flagship store in the Middle East.
The issuance of UAE Federal Law No. 8 of 2018 on Financial Leasing aims to facilitate the ease of availing financing and conducting business for small to medium enterprises (SMEs). The new Law has been in effect since 1 January 2019.
In the past year the United Arab Emirates (UAE) has witnessed a number of important developments in the area of compliance and financial crime which will have a significant impact on the risk exposure of companies operating in the UAE for the foreseeable future. Over time, collectively, these changes will have a profound impact on the compliance environment in the UAE, particularly as it relates to financial crimes, and companies can no longer approach compliance issues casually.