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Omar Momany

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As the 2019 Novel Coronavirus (COVID-19) continues to spread across the globe, businesses are facing weakened financial markets, disruption to workplace operations, and economic uncertainty. We have seen unprecedented measures taken by the UAE to prevent the spread of the disease including mandatory work from home instructions and business shut downs. However, there has been uncertainty as to what steps an employer can take to mitigate the impact of the virus while protecting the rights…

As the 2019 Novel Coronavirus (COVID-19) continues to spread across the world, governments are actively working with global and local health authorities to implement nationwide measures to help curb transmission and mitigate virus-related risks as well as offer relief for businesses and individuals in these challenging times. In response, businesses and government institutions across the UAE are taking necessary action to minimise the impact of the pandemic on their operations, workforce and supply chains, in…

As the 2019 Novel Coronavirus (COVID-19) continues to spread across the world, and governments and health authorities work tirelessly to defeat it, major economies are experiencing mounting pressure as consumer spending, production and investment are drastically curtailed due to virus-related risks.We recognize that many of our clients are also facing significant and urgent business impact and legal challenges.Our Baker McKenzie teams across the world are working with clients, regulators and various authorities to produce a…

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…

On 10 October 2019, the European Union (EU) agreed to remove the United Arab Emirates (UAE) from their list of non-cooperative tax jurisdictions (the EU blacklist). This followed from the introduction of the Economic Substance Regulations (ESR) in the UAE in March 2019, and more recently, the specific Guidance on the ESR (the Guidance) published by the UAE Ministry of Finance in September 2019.