New directions from the Ministry of Finance provide that the DIFC Courts Wills Service is no longer required to pay VAT for its services.UAE revamps foreign ownership rules for commercial companies 25.11.2020 The UAE overhauled its commercial company ownership laws, annulling the need for an Emirati shareholder for onshore companies and opening up a number of sectors to foreign investors. This is aimed at boosting the country’s competitive advantage and attracting foreign capital to the Arab world’s second largest economy. UAE introduces changes to inheritance law 11.11.2020 On 7 November 2020 the UAE President His Highness Sheikh Khalifa Bin Zayed Al Nahyan has issued a number of presidential decrees amending some articles in the Personal Status Law. Among others, the decree details changes in the laws concerning expatriates’ wills and inheritance.
The latest JAFZA Offshore Company Regulations of 2018 (‘Regulations’) introduced new provisions in Part 17 that enable existing offshore companies in the Jebel Ali Free Zone (‘JAFZ’) to convert their legal status from ‘offshore companies’ to an operating ‘free zone company’ (’Conversion’).UAE issues list of all 122 activities under 100% foreign ownership regime 23.04.2020 The UAE has released the full list of 122 categories for 100 percent ownership in the mainland under the UAE Foreign Direct Investment (FDI) Law. COVID-19: Ministerial Resolution on employment stability 07.04.2020
The Resolution aims to protect the position of non-UAE national employees by private sector employers during the application of the precautionary COVID-19 measures by the UAE government.
On 3 February 2020 Marina Fox took part in a business meeting of the lawyers from Russia and Ukraine.Five-year multiple-entry tourist visa for the UAE announced 14.01.2020
The UAE Cabinet approved the issuance of a five-year multiple-entry tourist visa for all nationalities visiting the countryReduction of Dubai Courts Fees for Commercial Claims not Exceeding AED 500,000 04.09.2019 Special law amended court fees applicable before Dubai Courts and reduced court fees for commercial claims that do not exceed AED 500,000.