UAE Archives - Page 85 of 94 - LexisNexis Middle East

Dubai: Committee to Regulate the Transplant of Organs and Tissues to be Established

24/11/201811/12/2019
by Benjamin Filaferro

Dubai’s Health Authority has announced it is working to establish a committee to regulate the transplant of organs and tissues in the Emirate. The committee will be responsible for standardising and regulating organ transplant processes in line with Federal Law No. 5/2016 on regulating the transfer and transplant of organs and tissues. The Authority has hosted a workshop to share experiences and learn about the best practices and latest developments in this area. Over 70 medical and technical teams intensive and emergency care specialists from the public and private sector hospitals in the Emirate attended and exchanged expertise and experiences in order to learn about the latest developments in organ transplant programmes, especially in Spain.

Weekly Spotlight

Weekly Spotlignt: The DIFC Has Amended its Company, Real Estate and Strata Law Regimes

17/11/201811/12/2019
by Benjamin Filaferro

This week the spotlight is on regulatory developments in Dubai, where the Dubai International Financial Centre has amended its Company, Real Estate and Strata Law regimes. The changes to the Companies regime came into effect on 12 November 2018 and the changes to the Real Estate and Strata Law regimes came into effect on 14 November 2018. These changes have been analysed by Al Tamimi & Company and can be read at https://www.lexismiddleeast.com/doc/2720578_2720581 and https://www.lexismiddleeast.com/doc/2720588_2720593.

These changes and other legislative changes have also been analysed by BSA Ahmad Bin Hezeem & Associates LLP. Their insights can be read at https://www.lexismiddleeast.com/doc/2720154_2720163?highlight=bsa.

Weekly Spotlight

Weekly Spotlight: Abu Dhabi Global Market Courts Issued a Public Consultation on Litigation Funding Rules

11/11/201811/12/2019
by Benjamin Filaferro

This week the spotlight is on regulatory developments in Abu Dhabi, where the Global Market Courts have issued a public consultation on litigation funding rules. The consultation ends on 5 December 2018.

They will provide parties with greater certainty on the enforceability of funding arrangements which have been entered into in connection with proceedings in Abu Dhabi Global Market. They are intended to apply to funding agreements used in connection with both court litigation and arbitration proceedings conducted in the Abu Dhabi Global Market. The public consultation includes the conditions and requirements of funders and the types of funding structures.

They will apply to litigation funding agreements which are defined in the Abu Dhabi Global Market Courts, Civil Evidence, Judgments, Enforcement and Judicial Appointments Regulations 2015.

They will set out the highest standards of best practice in litigation funding for Abu Dhabi and wider UAE and have taken the frameworks which are in place in other international jurisdictions where third party funding is common practice into consideration.

News developments

UAE: VAT Tourist Refund Scheme to be Launched on November 18

30/10/201811/12/2019
by Benjamin Filaferro

The UAE’s Federal Tax Authority has announced the Tax Refund for Tourists Scheme will start on 18 November. It will allow eligible tourists to request VAT refunds they incur on purchases. The first phase will see the digital system of the Tax Refund for Tourists Scheme implemented at Abu Dhabi, Dubai and Sharjah International Airports. By mid-December, the system will be fully operational and will include all airports and land and sea ports in the UAE in line with the Cabinet Decision to strengthen the UAE’s leading position as a global tourist destination.

News developments

UAE: Regulations Regarding Residence Permits and Visitor Visas to Come into Effect

22/10/201811/12/2019
by Benjamin Filaferro

The UAE’s Federal Authority for Identity and Citizenship has announced that from 21 October 2018, it will start implementing select UAE Cabinet Decisions regarding residence permits and visitor visas. It is expected that on 21 October 2018 the regulations on residence permits for widowed or divorced women, residence permits for students under parents’ sponsorship and in-country visit visa renewal will come into effect.

News developments

UAE Federal Tax Authority Issues VAT Guidelines on Insurance

14/10/201811/12/2019
by Benjamin Filaferro

The UAE’s Federal Tax Authority has published VAT guidelines on insurance to provide guidance on the VAT treatment of insurance transactions. Amongst other things, the guide clarifies the export of life insurance/life re-insurance services outside the implementing states is zero rated rather than exempt and accordingly the related input tax is recoverable in full. It adds insurance services in relation to real estate will not be treated as services related to real estate provided consideration for the insurance services is not included in the real estate service charges. In addition, the collection of a premium on behalf of the insurer or remittance of the premium to the insurer by a disclosed insurance broker is not subject to VAT. Employers will also not be able to recover VAT on the purchase of health insurance for employee family members unless there is a legal obligation or a contractual obligation and it is necessary to enable the employee to perform their employment duties.

News developments

Dubai’s Rental Disputes Centre has Launched the Rental Good Conduct Certificate Service

14/10/201811/12/2019
by Benjamin Filaferro

Dubai’s Rental Disputes Centre has launched the Rental Good Conduct Certificate service. The service is the first of its kind in the region and is aimed at enhancing trust between landlords and tenants. It is also aimed at reducing the number of disputes between them. It is part of moves to improve the Emirate’s performance in this area.

Weekly Spotlight

Weekly Spotlight: New Worker’s Insurance Scheme Upcoming in the UAE

07/10/201811/12/2019
by Benjamin Filaferro

This week the spotlight is on employment developments in the UAE, where the country’s Human Resources and Emiratisation Ministry has announced that from 14 October, a worker’s insurance scheme will replace the existing bank guarantees system. The new insurance scheme will apply to all private-sector employees, including domestic workers.

Instead of a fixed amount of 3,000 AED which typically must be paid against every work permit application, employers will pay an insurance premium of 120 AED per person, for a two-year work permit. This will provide an insurance coverage of up to 20,000 AED in lieu of unpaid wages, return ticket and against work-related injuries, among other benefits.

Employers will be able to recover earlier deposited bank guarantees only on the cancellation or renewal of a work permit and after the payment of an insurance premium. They must be free from any wages-related violations for at least six months before the renewal date of the work permit.

Weekly Spotlight

Weekly Spotlight: Dubai International Financial Centre Launches Consultation on New Insolvency Regime

30/09/201811/12/2019
by Benjamin Filaferro

This week the spotlight is on insolvency law developments in the DIFC, where the Centre has launched a consultation on a proposed new Insolvency Law regime. The consultation ends on 17 October 2018. The aim of the amendments is to bring the Centre more into line with international best practices.

The key proposals include introducing a new debtor in possession rehabilitation procedure, which includes a stay and cram down mechanism which will be supervised by the court and introducing a new administration process, including the appointment of an insolvency practitioner accessible via rehabilitation where there is evidence of mismanagement or misconduct. It will also enhance the rules governing voluntary winding up procedures and the rules governing compulsory winding up procedures. In addition, it will include more detailed provisions on wrongful trading, the re-use of company names and adding an offence in respect of any misconduct taking place during a winding up, enhance the provisions relating to the enforcement of financial collateral and incorporate the UNCITRAL Model Law on cross border insolvency proceedings into the DIFC law, with certain modifications for application in the DIFC.

News developments

UAE: Expatriate Retirement Visa Law Approved

23/09/201811/12/2019
by Benjamin Filaferro

The Cabinet of the UAE has announced a new law on residency visas for retirees. From 2019, foreign nationals looking to retire in the UAE will be able to obtain a renewable five-year residency visa, according to the announcement by the Cabinet. General conditions state that the new visa will be available to applicants over 55 who meet the following eligibility criteria, among other yet unannounced conditions such as investment in a property worth a minimum of two million AED in the UAE; or financial savings of no less than one million AED; or active income of at least 20,000 AED a month. It is expected a list of additional requirements and further visa conditions will be announced closer to the implementation date of the law.