In brief During 2023 we saw various changes to the UAE employment and labour law landscape continue apace, supporting the government’s objective of attracting and retaining business and talent in the country. These include the new alternative end-of-service benefits scheme, unemployment insurance scheme, changes to Emiratisation and more. In this article we set out a brief summary of the key developments that have taken place in 2023 and take a look ahead to 2024. In…
In brief Investment funds, including Real Estate Investment Trusts (REIT), have been provided with additional clarity through the issuance of Cabinet Decision No. 81 of 2023 on Conditions for Qualifying Investment Funds for the Purposes of Federal Decree-Law No. 47 of 2022 on the Taxation of Corporations and Businesses (“Decision”) for clarification as to whether they can apply to be exempted from UAE corporate tax (at the discretion of the UAE tax authority). This Decision…
In brief The Emirate of Dubai continues to strengthen its leading position as a top global business and tourist destination. As the development of visionary architecture and futuristic landscapes are aligned with ambitious sustainability targets, a new real estate law has been introduced to further support sustainable development and urban growth in Dubai. With the issuance of Law No. 16 of 2023 on Urban Planning in the Emirate of Dubai (“Urban Planning Law”), new regulations…
In brief With the pace of change in the UAE continuing to accelerate, the UAE authorities announced in July 2023, via Twitter, an expansion to the categories of companies that are subject to the Emiratisation quota requirements. This latest development further evidences the country’s commitment to increasing the numbers of UAE national employees employed in the private sector. The law supporting the announcement is not yet officially available so this article sets out what we…
In brief The Dubai International Arbitration Centre (DIAC) has recently released its Annual Report for the year 2022. The Report highlights the new vision and future strategies of DIAC and provides helpful statistics for 2022, including regarding the overall caseload, caseload by value of disputes, sectors represented and the nationalities involved.[1] The statistics show a growth in the number and the value of the cases registered, as well as a broad outreach in terms of…