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UAE

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In brief Over the last few years, the United Arab Emirates (UAE) has taken steps to regulate the volatile crypto industry, as seen in the recent crypto winter, and to anticipate global crypto regulatory developments including in the US and in the UK that have been called upon to regulate the sector through regulations rather than enforcement, to protect retail investors that ultimately were the major victims of the crypto winter. In 2020, the Financial…

What has changed? The maximum three-year limit for fixed term contracts has been removed. While contracts still require to be for a limited term, employers now have flexibility with regards to the length of the term. We have already prepared and have been using our new contract templates (and issued contract amendments converting unlimited term contracts to limited term contracts). Do we need to change all of our contracts again? Unlikely. We expect that the…

In brief On 30 June 2022, the Government of Abu Dhabi Department of Health (DoH) issued Circular No. 147 of 2022 (“Circular”) requiring health and pharmaceutical facilities licensed by the DoH (“Licensed Entities”) to obtain a “secure” or “safe” certificate that certifies they operate in full compliance with the requirements of the Abu Dhabi Standard for Health Information Security and Cyber Security Standards (“Standards”). Licensed Entities have until the end of this year (i.e., by…

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…

Increasing the number of UAE nationals in the private sector has long been a key objective for the government. In the past, the UAE government has launched a significant number of laws and initiatives to support the localisation of the workforce. The government has recently increased its efforts in this regard and introduced a suite of new laws, including an obligation to recruit Emirati employees at the rate of 2% per year, to drive forward…