In brief Following rounds of consultation, the United Arab Emirates (UAE) has issued the new and much anticipated Federal Law No. 3 of 2022 regulating Commercial Agencies (“New Law”), repealing and replacing the longstanding Federal Law No. 18 of 1981, which has been amended many times including most recently in May 2020. The New Law introduces various changes and grants for the first time, the right for international companies that are not owned by UAE…
In brief As the Dubai real estate market continues to break pre-pandemic transaction records, a new real estate law has been introduced to further support the growth of property investment funds in Dubai. With the issuance of Decree No. 22 of 2022 (the Property Investment Funds Law), a new register (the Register of Property Investment Funds) has been established at the Dubai Land Department (the DLD) which entitles registered funds certain rights to facilitate their…
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 September 2018, the UAE issued the Foreign Direct Investment Law (FDI Law) to open up the UAE mainland market to foreign investors in certain sectors of the economy. This was followed by the announcement on July 2019 of the relaxation of foreign ownership restrictions for 122 business activities, specifically in the manufacturing, agricultural and services categories (Positive List), pursuant to the FDI Law. On 17 March 2020, the UAE Cabinet issued Cabinet Resolution No.…
Private sector investments in the education industry in Egypt are of paramount importance. Over the past decade, we have witnessed a steady increase in the appetite of private equity funds and investors to capitalize from the industry. This enthusiastic appetite and lucrative appeal is owed to ever-increasing enrollments; in 2016/17, the Central Agency for Public Mobilization and Statistics reported that total enrollments at the K-12 level amounted to 20.6 million students. The growth continues —…