Dubai: First Guide for Infrastructure Projects No Objection Certificates Approved

Al Bayan, 15 March 2024: Dubai’s Roads and Transport Authority has announced it has approved the first edition of the guide for submitting non-objection certificate transactions for infrastructure projects.

The guide aims to simplify procedures, increase transparency, make it more efficient to implement infrastructure projects and reduce the time required for services.

This will improve customer satisfaction.

It is also an essential guidance tool for contractors and consultants.

It provides clear guidance to those wanting to obtain the necessary permits for infrastructure projects in the train protection zone.

For the full story, click here.

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Dubai: New Investment Platform Launched

Arabian Business, 13 March 2024: Dubai’s Ruler has issued a Decree establishing a Unified Digital Platform for companies setting up in the Emirate.

Dubai Decree No. 13/2024 has been issued as part of efforts to improve Dubai’s business environment and support economic growth.

It aims to integrate various licensing processes in the Emirate including those managed by the Economy and Tourism Department and the authorities of special development zones and freezones, including the Dubai International Financial Centre (DIFC).

By offering a streamlined channel for accessing information, obtaining licences, and availing other services related to economic activities, the platform seeks to improve ease and convenience for investors.

The Economy and Tourism Department will be responsible for operating, managing and developing the Invest in Dubai platform together with the relevant licensing bodies and in line with the digital transformation guidelines set out by the Dubai Digital Authority.

All requests related to licensing and permits should be processed through the Invest in Dubai platform in line with the procedures, requirements, timelines and fees mentioned in the Guide. The Guide is an electronic document developed by the Economy and Tourism Department, It outlines the requirements for operating a business in Dubai.

The Chairman of the Executive Council will be responsible for issuing the decisions to implement the Decree. It annuls anything which may contradict it.

It applies to all economic activities in Dubai and aims to regulate the issuing of licences, permits and approvals in the Emirate to improve clarity and simplicity.

It also aims to help investors overcome obstacles in setting up or operating businesses in Dubai.

In addition, it aims to improve electronic integration between licensing departments and other key entities to avoid procedures being duplicated.

It aims to support digital transformation efforts in line with the objectives of the Dubai Economic Agenda D33 too.

It will be published in the Official Gazette and come into force on its published date.

Dubai Executive Council Decision No. 5/2024 has also been issued. Under this Decision, key principles to support investors in Dubai are introduced. The principles apply to the processes for all licences, permits and approvals related to business activities in the Emirate.

Under the Decision, all licensing entities and federal and local entities responsible for regulating and supervising business activities in the Emirate are also responsible for facilitating the investor journey in Dubai and implementing the relevant procedures to achieve this.

It also outlines various measures to provide a smooth investor experience. This includes registration on the Invest in Dubai digital platform, unified digital data registration and instant licensing. It also includes instant licence renewal, one-step fee payment, streamlining of licensing requirements and standardisation of procedures, rules and conditions.

It will be published in the Official Gazette and come into force when Dubai Decree No. 13/2024 comes into force.

Also reported in WAM Arabic on 13 March 2024. For the full story, click here.

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Dubai International Financial Centre Publishes New Digital Assets Law

The Dubai International Financial Centre has published a new Digital Assets Law.

Following the publication of DIFC Law No. 2/2024, the DIFC has also published amendments to the Contract Law 2004 (DIFC Law No. 6/2004), the Implied Terms in Contracts and Unfair Terms Law 2005 (DIFC Law No. 6/2005), the Law of Damages and Remedies 2005 (DIFC Law No. 7/2005), the Law of Obligations 2005 (DIFC Law No. 5/2005), the Trust Law 2018 (DIFC Law No. 4/2018), the Foundations Law 2018 (DIFC Law No. 3/2018), the Personal Property Law 2005 (DIFC Law No. 9/2005) and the Insolvency Law (DIFC Law No. 1/2019).

The amendments to those pieces of legislation are contained in the DIFC Amendment Law, DIFC Law No. 3/2024.

The Centre had announced a consultation on a proposed Digital Assets Law in October 2023. It ended on 5 November 2023.

The consultation on the proposed legislation and its enactment followed international common law developments and judgments, which have started to provide some clarity on digital assets. However, they have not provided a comprehensive legal framework mapping out the full extent of the legal characteristics of a digital asset and how users and investors within this asset class may interact with digital assets and each other.

DIFC Law No. 2/2024 defines a digital asset as

something that exists as a notional quantity unit manifested by the combination of the active operation of software by a network of participants and network-instantiated data, independently of any particular person and legal system and something that is not capable of duplication and use or consumption of the thing by one person or specific group of persons necessarily prejudices the use or consumption of that thing by one or more other persons.

It is characterised as intangible property and is neither a thing in possession nor a thing in action.

The Law also contains provisions on who will be considered to control a digital asset and how.

In addition, it includes general rules regarding title, transfer of title and the exercise of rights over digital assets in the event of death, incapacity or insolvency.

It includes provisions on the control of a digital asset where there is impairment and provisions on how control of a digital asset can be recovered as well.

There are also miscellaneous provisions on power to make Regulations.

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Dubai: First 3D Printing Construction Licence Approved

Arabian Business, 19 February 2024: The Planning and Development Department or Trakhees of the Ports, Customs and Free Zone Corporation or PCFC has announced it has approved the first 3D printing construction licence.

It was granted to Nakheel and is the first licence for construction using 3D printing technology for buildings in the Emirate.

It was granted to Nakheel for the Al Furjan Hills project in December 2023.

The printing process for the initial project was concluded 20 days after the start of construction operations.

3D printing is allowed in the construction sector in the Emirate under Dubai Decree No. 24/2021.

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Dubai: International Financial Centre Announces Launch of Sustaining Family Business Success Programme

Arabian Business, 12 February 2024: The Dubai International Financial Centre has announced the launch of a Sustaining Family Business Success Programme.

It has been launched together with the DIFC Academy and MIT Sloan Executive Education.

It will take place from 24 to 26 June and will provide family businesses with training on sustaining success across generations.

It is aimed at equipping family businesses with the knowledge and strategies needed to navigate opportunities and challenges as they expand regionally and globally.

They will earn a certificate from the MIT Sloan School of Management after completing the Programme.

The Programme has been developed around six pillars, including future vision, managing turbulence, governance, talent and succession and multigenerational success.

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