Uae

The global apparel industry is on track to experience tremendous growth in the coming years. In 2020, the industry was valued at $1.5 trillion. By the year 2025, it’s expected to exceed $2.25 trillion. Hence, the way people purchase clothing is changing. With internet access more prevalent than ever and increased usage of smartphones, brands are flocking to the online marketplace to expand their global footprint. Five years ago, online sales only accounted for 14 percent of all fashion purchases. Today, a quarter of all clothing purchases are made online. Read more

On the 2nd of January this year, the United Arab Emirates (UAE) issued its first data protection law, which was adopted by the Federal Decree Law 45/2021 on Protection of Personal Data (the Law) alongside establishing the UAE Data Office by virtue of Federal Decree Law 44/2021. In this article we discuss the details of the new law, including who it applies to, the key requirements and principles, and the legalities surrounding it. Read more

Abu Dhabi Department of Economic Development (ADDED) announces today that Industrial Licences in the Emirate can now add Commercial Activities and Service Activities to the same licence. In accordance with Decision No. 145 of 2020 of the Chairman of the Department of Economic Development regarding the regulation of the conduct of economic activities in the Emirate of Abu Dhabi. Previously the company would have to set up a separate licence in order to conduct Commercial or Service Activities these rules have now been relaxed to allow an Industrial unit to also undertake these activities where it related to their products. Read more

UAE Electronic Transactions Law – electronic signatures now accepted in the UAE The UAE has made significant reforms to the country’s legal system in recent weeks in order to meet globally recognised business standards. As a result, many laws have been revised, including the Federal Law No. 1 of 2006 on Electronic Commerce and Transactions. As of 2 January 2022, this law has been replaced by the Federal Decree Law No. 46 of 2021 on Electronic Transactions and Trust Services. Under this law, the Telecommunications and Digital Government Regulatory Authority (TDRA) will act as the regulator for implementing the new legislation. Read more

The UAE has recently announced the aim of attracting $150 billion in foreign investment over the next 10 years. In doing so, 50 initiatives, including the creation of new visas to attract talented individuals who can contribute significantly to the UAE’s economy, will be implemented. One of these visas includes the Golden Visa. This is a long-term residency visa which was implemented in 2019, but the requirements and application process have since been modified. It is issued for a period of 5 or 10 years with automatic renewal, and since its inception, has allowed 44,000 current Dubai residents to benefit from it. Read more

The UAE has approved widespread reforms to the country’s legal system; the most significant within its 50-year history. As a result, the existing federal employment and labour laws have been completely overhauled to bring them in line with internationally recognised business standards. The new provisions, known as Federal Decree Law No.33 of 2021, replace the previous Federal Law No.8 of 1980 and address a wide variety of business practices. Read more

In commemoration of its 50th anniversary, the UAE announced the aim of attracting $150 billion in foreign investment over the next 10 years. This will involve the implementation of 50 initiatives including investment in technology, sweeping labour reforms and the creation of new visas to attract talented individuals capable of making large contributions to the country’s economy. This announcement is yet another example of the UAE’s commitment to the diversification and development of its economy and ambition to be at the forefront of the emerging industries of the future. It is also recognition of the part the expatriate population play in the success of its economy. Read more

Company incorporation in the UAE can be a complicated process. There are specific steps that must be followed and regulations that must be adhered to. Once a company has obtained a trade licence, processed the required visas, registered the company with the department of economic development and ensured compliance with all legal requirements, the subject of trademark acquisition becomes an important one to consider. Read more

Each year, thousands of companies shut down their operations for a wide variety of reasons. Closing a business can require just as much work, if not more, than establishing a new one. For companies located in Qatar, there is a specific process that must be followed. This article defines the two types of company liquidation: voluntary and compulsory, details the circumstances under which a company may liquidate and goes through the steps required for company liquidation and closure in Qatar. Read more

The recruitment industry in the UAE is thriving. Government initiatives to attract international talent such as the provision of more remote working opportunities and long-term residency schemes have successfully created thousands of new jobs in the private sector. In fact, the Department of Economic Development (DED) has recently revealed that between one and three thousand business licences are being issued on a monthly basis and according to a recent survey carried out by HSBC, 75% of companies in the UAE rank effective recruitment as the most important factor in their growth plans. Read more