CROWE: 100% foreign ownership in the UAE companies

100% foreign ownership in the UAE companies (mainland / onshore)

 

Recently, there have been major clarifications announced by the UAE government in relation to 100% foreign ownership in the UAE mainland companies.

The long awaited procedural clarifications have started to flow in. For Crowe’s latest snapshot of the situation so far CLICK HERE.

 

 

 

 

ANDERS Legal Consultancy: Informationsblatt DAFZA Regulations 2021

 

 

 

Dubai Airport Free Zone: 5 Neuerungen im Zuge der Implementing Regulations 2021 

ANDERS LEGAL CONSULTANCY hat in seinem neuen Informationsblatt die fünf signifikanten Neuerungen zum Thema Dubai Airport Free Zone Authority (“DAFZA”) zusammengestellt.

Das aktuelle Informationsblatt ist sowohl in deutscher als auch in englischer Sprache erhältlich:

Dubai Airport Free Zone: 5 Neuerungen im Zuge der Implementing Regulations 2021

Dubai Airport Free Zone: 5 Innovations introduced by the Implementing Regulations 2021

 

 

 

 

emltc Ltd. Webinar Invite: Ultimate Beneficial Ownership

 

Webinar Invitation:

Coporate Compliance in the UAE

The Ultimate Beneficial Ownership Register

emltc Ltd. is organizing a webinar on 8 June 2021 (11 am GST) on the requirements & deadlines for the submission of the Ultimate Beneficial Ownership (UBO) register in the United Arab Emirates (UAE).

Background

On 28 August 2020, the Ministry of Economy issued Cabinet Resolution No. 58 of 2020 (on the Regulation of the Procedures of the Real Beneficiary). The Resolution contains several compliance requirements regarding the declaration of Ultimate Beneficial Ownership (UBO). Companies in the Free Zone and the Mainland have to file respective information regarding the shareholder and beneficial owner structure with the relevant registrar and licensing authorities.

Companies have to maintain the following registers:

  • Shareholder Register;
  • Register of Beneficial Owners (whoever owns or controls through direct or indirect ownership at least 25% of the legal person’s shares or whoever has a voting right of at least 25% of the shares); and
  • Register of Nominee Directors (acting following the guidelines or instructions issued by another person).

Dr. Constantin Frank-Fahle, LL.M., Founding Partner of emltc Ltd., will discuss the UBO requirements.

 

Agenda

  1. Introduction
  2. Ultimate Beneficial Ownership (UBO) register
    – History / Purpose
    – Scope
    – Field report
  3. Recent developments – requirements and deadlines
  4. Sanctions
  5. Outlook & Conclusion

 

REGISTER HERE

 

 

Webinar: “Ecommerce, Your Growth Engine” by Dubai Chamber of Commerce and Industry

Ever wanted to learn the different trends of E-commerce, regionally and globally, and how the pandemic made change inevitable?

E-commerce has become an essential part of the global retail framework. In this webinar, we will share insights on the different trends of eCommerce globally and regionally and how the pandemic made change inevitable, and bring closer to you ecommerce tools that will help your business grow and sustain in highly competitive markets, and why it is important for your business to embark in the digital journey and embrace it a rapidly changing business environment.

Join the “Ecommerce, Your Growth Engine” webinar organized by Dubai Chamber of Commerce and Industry on 23rd June 2021 at 1:00 PM.

The webinar introduces you to E-commerce tools that will help your business grow and endure in a highly competitive market, and will highlight the importance of embarking your business in the digital journey and embrace it in our rapidly changing business environment.

CLICK HERE for the agenda and more information about the webinar program.

CLICK HERE TO REGISTER

 

Job Opening at Strohal Legal Consultant

 

Job Advertisement by Strohal Legal Consultants

Our member Strohal Legal Consultants is looking for a full time executive secretary and accountant in Ras al Khaimah, UAE.

CLICK HERE to download the detailed job advertisement.

SCHLTER GRAF new legal briefing: Practical Implementation of new FDI rules for LLCs

 

Practical Implementation of new Foreign Direct Investment rules for LLCs
(Federal Decree Law No. 26 of 2020)
Following SCHLÜTER GRAF’s legal briefing on the “Practical Implementation of Federal Decree Law No. 26 of 2020 for Branches of Foreign Companies” dated 22nd April 2021, it has recently been announced that from 1st June 2021 the foreign ownership restrictions with regard to limited liability companies are to be mostly lifted (with certain exceptions); this will have a direct impact on foreign direct investment in the UAE.
The new legal briefing provides an overview on the expected changes to the licensing requirements for LLCs in Dubai and Abu Dhabi and can be downloaded HERE .

Crowe: Amendment of Administrative Penalties for violations of tax law in the UAE

 

 

Amendment of Administrative Penalties for violations of tax law in the UAE

Hereby we would like to inform you that on 28th April 2021, the UAE Cabinet issued Cabinet Decision No. 49 of 2021 which amends certain provisions of Cabinet Decision No. (40) of 2017 on Administrative Penalties for Violations of Tax Law in the UAE. The amendment shall be effective 60 days from the date of the issuance, which is 27th June 2021. The link document below provides a summary of the most important changes to the penalty regime for violations with the tax laws in the UAE. In case you need support or any further information, kindly contact Crowe UAE.

Click here for full Information.

Abu Dhabi Ports: Webinar Industrialization in the UAE and the Role of Abu Dhabi’s Ports

Abu Dhabi Ports will host its latest webinar

Industrialization in the UAE and the Role of Abu Dhabi’s Ports Webinar
Exploring the role of Abu Dhabi’s ports in supporting the UAE’s industrial strategy

on Tuesday, 1st June 2021 from 13:00-14:15 GST.

Abu Dhabi Ports’ long-term strategy is not only transforming the emirate of Abu Dhabi’s maritime infrastructure but is also creating tremendous possibilities and potential for increased industrial integration and connectivity with the global economy.
This webinar will provide critical updates on the UAE’s industrial strategy and the role of Abu Dhabi’s Ports in achieving these targets, and will showcase some of the exciting expansion across our ports and opportunities available to the private sector.

More information and webinar Registration click here

 

 

emltc: Regional Headquarters in the Middle East

Vor Kurzem hat das Königreich Saudi-Arabien angekündigt, ab dem Jahr 2024 keine öffentlichen Aufträge mehr an Unternehmen zu vergeben, deren regionale Unternehenszentrale sich nicht im Königreich befindet. Diese Entscheidung zählt primär darauf ab, ausländische Direktinvestitionen in Saudi-Arabien zu steigern. Mit dieser Richtungsvorgabe tritt das Königreich Saudi-Arabien in einen Wettbewerb zu den Vereinigten Arabischen Emiraten. Am härtesten dürfte das Emirat Dubai betroffen sein, welches angesichts seiner ausgezeichneten Rahmenbedingungen (u. a. exzellente Infrastruktur sowie Zugriff auf qualifizierte Arbeitskräfte) seit Jahren als führender Standort für regionale Unternehmenszentralen im Nahen Osten genutzt wird. Die vorgenannten Entwicklungen betreffen in erster Linie international agierende Investoren.

Bitte klicken Sie hier für die aktuelle Abhandlung zu “Regional Headquarters in the Middle East“.