Recent Amendments in UAE Laws – Share Pledge and Executions against Partners
Introduction Pledging of shares is a very important topic for financial institutions and banks all around the world. It also has significance importance for foreign investors in United Arab Emirates (UAE). Until recently, the pledge over shares of onshore Limited Liability companies of UAE have been a very debatable topic during the application of Commercial […]
New Government rules in Commercial Company Law of UAE
Introduction-Commercial Company Law There has been New Government Rules issued by the authority recently, The Provisions are related to “Related Parties”, “Insiders”, and “Conflict of Interest”. The purpose of this article is to provide an overview between the New Government Rules and Commercial Company Law. To suffice the purpose of this article, let us first […]
New Commercial Company Law & LLC
The New Commercial Companies Law of United Arab Emirates (UAE) that is Federal Law No. 2 of 2015 became effective from July 1, 2015 replacing the old Federal Law No. 8 of 1984. The objective of the new law is to regulate the companies in UAE as per international norms related to governance rules, the […]
Everything you need to know about Insurance Brokerage in UAE
Insurance brokerage profession can be carried on only after obtaining License to practice insurance activities in the UAE as a Company or a Branch or an Insurance Agent of Foreign Company. All Insurance Broker in the UAE is subject to resolution 15 of 2013 including amendment thereto from time to time. Under Federal Law No. […]
Highlights of New Company Law in KSA
Introduction On 9th November, 2015 the council of ministers of Kingdom of Saudi Arabia approved much awaited new Company Law with dual objective of modernizing the company law framework and resolve ambiguities in existing framework in the kingdom. New law also strives to promote foreign investment and encourage small and medium scale enterprises by establishing […]