In brief The Dubai International Financial Centre (DIFC) Court of First Instance (DIFC Court) has considered in its recent Order of 19 September 2023 in Muhallam v Muhaf [ARB 021/2022] (the “Order”) whether a provisional award introducing interim measures is enforceable in the DIFC as an “award”. The dispute centred around the controversial issue of whether interim awards are final awards capable of recognition, including under the New York Convention. The DIFC Court held that…
End of Service Gratuity, Proposed Changes to DIFC Employment Law, Unemployment Insurance and More In brief There have been a raft of developments to the UAE’s employment regime over the last few months as the UAE government ramps up initiatives to attract and retain talent in the country. We have set out below a summary of the legal and commercial updates and key considerations for employers to comply with the changes and minimize potential business…
The law addresses for the first time the processing of personal data via autonomous and semi-autonomous systems In brief On 7 September 2023, the Dubai International Financial Centre (DIFC) enacted amendments to Data Protection Law No. 5 of 2020 (“DIFC Data Protection Law”) which came into force starting on 1 September 2023. These amendments were preceded by a 30-day public consultation launched by the DIFC in April 2023. The amendments are aimed at enhancing the…
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…