UAE Archives - Page 9 of 93 - LexisNexis Middle East

Dubai: New Rule for Power of Attorney in Overseas Property Sales

19/06/202519/06/2025
by Hannah Gutang

Gulf News, 17 June 2025: Dubai authorities have issued new legal guidelines requiring overseas property investors to transact payments in their name, according to the title deed, when selling units in Dubai.

While earlier practices allowed power of attorney recipients to process payments, the new rule stipulates that cheques must be payable directly to the property owner as identified in the title deed.

This regulatory change impacts foreign property owners in Dubai who previously could designate relatives or third parties to receive sales proceeds. Under the new requirement, all monetary transactions for property sales must be directed to the bank account of the named title deed holder, eradicating the use of proxies for the financial aspect of sales. Furthermore, sellers are required to possess bank accounts within the UAE to process these transactions.

The obligation for property transactions emphasises the authentic identity of the seller, reducing chances of misrepresentation or fraud within the Dubai property market. This rule aligns with broader legal efforts to ensure clarity and straightforwardness in real estate dealings, demanding all PoA authorisations to be verified through Dubai’s local courts, which can now be conducted remotely, enhancing accessibility.

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News developments

Abu Dhabi: Real Estate Regulations Update

19/06/202519/06/2025
by Hannah Gutang

The Department of Municipalities and Transport (DMT) of Abu Dhabi recently announced updates to the regulatory framework governing the emirate’s real estate sector.

A key component of this update is the enhancement of regulatory mechanisms and the empowerment of the Abu Dhabi Real Estate Centre to supervise the sector. This involves establishing clear legal and contractual frameworks that balance relationships among various stakeholders and safeguard their rights.

The comprehensive legal framework has been designed to ensure the long-term sustainability of jointly owned properties and common areas within development projects. It regulates professions related to the real estate sector to guarantee effective market governance and protect investor interests. There is a new definition of real estate activities, encompassing development, sale, purchase, registration, evaluation, management, and operation, thereby standardising and enhancing transparency across the sector.

Significant changes include provisions allowing developers to terminate off-plan sale and purchase agreements unilaterally if buyers fail to meet obligations, provided procedural compliance is met to secure ADREC approval. This adjustment aims to mitigate disputes, improve market dynamism, and reduce investment risks by streamlining resolution processes outside of court or arbitration.

Furthermore, the concept of Owners’ Committees has replaced Owners’ Associations, with their governance subject to decisions from the DMT Chairman, focusing on advisory roles. Management companies are tasked with operational responsibilities, ensuring the sustainability and effective management of shared facilities and common areas.

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Publications

Lexis Middle East Law Alert: May-June 2025 Edition

19/06/202520/06/2025
by Tanya Jain

The May-June 2025 edition of Lexis Middle East Law Alert provides legal professionals across the GCC with the latest updates, expert insights, and analyses on pivotal developments in the region. This issue focuses on major changes in the legal landscape, including the recent introduction of a comprehensive law aimed at simplifying the framework for DIFC courts. We also explore the upcoming Oman Investment and Trade Court, set to begin operations in October 2025, which promises to reshape dispute resolution in the region. Additional coverage includes significant proposed amendments to Saudi Arabia’s Data Protection Law and the evolving tax regulations in the UAE, particularly impacting non-resident investors.

This edition also highlights key developments affecting the legal and financial sectors, in addition to an in-depth profile of Rahaf Saad, the rising star from Alinma Bank, who shares her experiences in strategic deals and regulatory compliance. The issue is rounded out with a movers and shakers segment and a focused look at Saudi employment contracts. It’s a comprehensive resource for legal professionals seeking to stay ahead of emerging trends and regulatory shifts in the Middle East.

FEATURE: ENFORCING CHANGE

Dr. Mahmood Hussain of M&Co delves into the DIFC Centre Courts Law, which aims to simplify and consolidate the legal framework governing the DIFC courts, providing a more comprehensive law for stakeholders.

FEATURE: NEW DISPUTE ROUTES

A preview of the upcoming Oman Investment and Trade Court, set to open in October 2025. Legal experts Oliver Stevens, Ali Aideed, and Mohammed Al Siyabi from Addleshaw Goddard explore what’s known about its structure and operational model.

IN-HOUSE PROFILE

Rahaf Saad, a Legal Associate at Alinma Bank, shares her journey and how her work on strategic deals and regulatory compliance initiatives earned her the LexisNexis Rising Star Award.

MOVERS AND SHAKERS

A roundup of significant career moves in the region, presented in association with Jameson Legal.

CONTRACT WATCH

A detailed look at Saudi Employment Contracts by Sara Khoja, Employment Partner at Clyde and Co.

TAX AND FINANCE ROUND-UP

Key updates on tax and finance, with a particular focus on UAE’s new tax changes for non-resident investors.

LEGAL ROUND-UP

Updates on the evolving landscape of data protection in Saudi Arabia.

Lexis Middle East Law Alert_May June 2025

Explore the past editions of the Lexis® Middle East Law Alert and stay up-to-date with the latest news! Click the links below for instant access to older editions.

Lexis Middle East Law Alert_January-February 2025

Lexis Middle East Law Alert_March-April 2025

Lexis Middle East Law Alert_October-November 2024

Lexis Middle East Law Alert_August-September 2024

Lexis Middle East Law Alert_May/June 2024

LAW MONITOR

Discover the recent legal progressions in the GCC, with a focus on the newly implemented competition law regulations in the UAE.

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News developments

Lexis Middle East Gulf Tax – Summer 2025 Edition

16/06/202519/06/2025
by Tanya Jain

Brought to You by Tolley+ Middle East

The Summer 2025 Edition of Lexis Middle East Gulf Tax brings readers a sharp and timely exploration of evolving tax regulations and practices across the GCC region. This issue is rich with expert insights, legislative updates, and practical guidance for tax professionals navigating an increasingly complex landscape.

FEATURE: WITHHOLDING TAX: YOU NEED TO KNOW

Shiraz Khan and Richard Ferrand from Al Tamimi & Co. delve into Saudi Arabia’s evolving position on Withholding Tax (WHT). The article explains the latest ZATCA (Zakat, Tax and Customs Authority) clarifications surrounding WHT benefits and how entities can apply for these incentives. It is an essential read for taxpayers and advisors managing cross-border payments and seeking certainty in compliance.

FEATURE: ADVANCES IN TRANSFER PRICING

Zain Satardien and Aakriti Sharma of Hourani and Partners provide an authoritative overview of recent ZATCA developments regarding Advance Pricing Agreements (APAs). Their analysis highlights how Saudi tax authorities are refining their transfer pricing approach to offer greater predictability for multinational enterprises operating in the Kingdom.

TAX NEWS ROUND-UP

A comprehensive digest of reent tax treaty updates and regulatory shifts across the Gulf. This section is a must-read for professionals seeking to stay abreast of strategic tax changes and how they may affect operations across multiple jurisdictions.

PRACTICAL FOCUS: FOCUS ON NATURAL RESOURCES

This piece by Baqar Palavandishvili of Galadari Advocates & Legal Consultants examines the implications of Sharjah Law No. 3/2025, a landmark reform introducing a corporate tax regime for extractive and non-extractive natural resource companies. The article breaks down the scope, compliance expectations, and what it means for businesses involved in energy and resource sectors.

TAX PROFESSIONAL PROFILE: TAKING A MORE FLEXIBLE APPROACH

In a candid interview, Illyana Panova, Global Tax Director for a Family Office, reflects on her experience as the first UAE-based tax expert to join the fractional executive community. She shares insights on adopting a flexible work model, lessons learned from leading global tax strategies, and how the regional tax landscape is evolving to accommodate non-traditional executive roles.

ANY QUESTIONS? WHAT’S DUBAI EXECUTIVE COUNCIL DECISION NO. 11/2025’S TAX IMPACT?

Andre Anthony and Adelina Frunza of CMS explore the tax implications of this new Dubai freezone regulation. Their article dissects the operational and strategic impact of Decision No. 11/2025 on freezone entities, offering clarity on potential challenges and planning opportunities for affected businesses.

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Lexis Middle East Gulf Tax_Summer 2025

Have you read the Lexis® Middle East Gulf Tax – Past editions? Click the links below to access them.

Lexis Middle East Gulf Tax | Spring 2025

Lexis Middle East Gulf Tax | Autumn 2024

Lexis Middle East Gulf Tax | Summer 2024

News developments

UAE: Cryptocurrency for Salaries and Payments

12/06/202512/06/2025
by Hannah Gutang

Khaleej Times, 4 June 2025: The UAE is set to integrate cryptocurrency into daily transactions, allowing residents to pay bills, traffic fines, and receive salaries in digital currencies.

Residents and businesses across the UAE, will be able to use cryptocurrencies for utility bills, groceries, and other payments. The legal precedent was set by a Dubai court when it ruled allowing an employee’s dues to be paid in both dirhams and cryptocurrency, as per their contract.

To use crypto currencies, businesses have to adapting their payment systems to accept cryptocurrencies, and residents would have to ensure compliance with the legal framework governing digital transactions.

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News developments

Ajman: Decree on Real Estate Service Fees and Penalties

12/06/202512/06/2025
by Hannah Gutang

Mubasher, 9 June 2025: The Crown Prince of Ajman has issued a new decree on the standardisation of service fees, penalties, and fines within the Department of Land and Real Estate Regulation.

Under the decree, the Department of Land and Real Estate Regulation has been authorised to collect specified fees and enforce penalties and fines for non-compliance. The decree has also nullified any conflicting provisions in existing legislation, ensuring a unified legal framework for real estate services.

The standardisation of fees and penalties is expected to streamline real estate transactions and support Ajman’s economic and organisational growth.

For the full story, click here.

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Expired LexisNexis Insider; Product Roadshow | 24 June 2025 | 8:30 AM – 11:30 AM | Waldorf Astoria DIFC

09/06/202519/06/2025
by Vincent Slingerland

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LexisNexis Insider; Product Roadshow | 24 June 2025 | 8:30 AM – 11:30 AM | Waldorf Astoria DIFC
24/06/2025
8:30 AM - 11:30 AM

Discover how LexisNexis can boost your legal productivity through quick, insightful conversations with our Account Management team.

Expired Understanding UAE’s Corporate Tax Law: Navigate the UAE’s New Corporate Tax Reforms | 16 Oct 2025 | 10:00 AM to 12:00 Noon GST | Zoom Live Webinar

02/06/202528/08/2025
by Benjamin Filaferro

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Understanding UAE’s Corporate Tax Law: Navigate the UAE’s New Corporate Tax Reforms
16/10/2025
10:00 AM - 12:00 PM SEFORMENA-D

Join LexisNexis, DIFC Academy, and DLA Piper for an expert-led session with Nils Vanhassel, Legal Director at DLA Piper. This 2-hour CLPD-certified course will provide essential insights on compliance, tax structuring, and business implications.

News developments

Dubai: Remote Marine Vessel Licence Renewal Service

30/05/202530/05/2025
by Tanya Jain

Dubai Maritime Authority, part of the Ports, Customs and Free Zone Corporation, has launched a Remote Technical Inspection Service to facilitate the renewal of licences for pleasure marine vessels up to 12 meters, pleasure watercraft, and foreign-registered visiting vessels.

This initiative, issued by CEO of the Dubai Maritime Authority, is part of the Authority’s digital transformation strategy, following directives from His Highness Sheikh to simplify government services and reduce bureaucracy. Vessel owners and operators in Dubai, will have to use the new remote service for licence renewals. The service allows customers to book inspections online, complete necessary checklists, and conduct virtual inspections with an inspector, ensuring compliance with safety and operational standards.

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News developments

UAE: Banks to Increase Minimum Balance Requirement

22/05/202522/05/2025
by Tanya Jain

Khaleej Times, 20 May 2025: Several banks in the UAE have announced an increase in the minimum balance requirement from AED 3,000 to AED 5,000 as per the Central Bank’s personal loan regulations.

Customers who do not maintain the new minimum balance will incur a monthly fee of AED 25, unless they hold a credit card or have personal financing with the bank. The decision aims to enhance banks’ deposit levels and cover the costs of maintaining customer accounts.

Customers with a total balance of AED 20,000 or more, or a monthly salary transfer of AED 15,000 or more, will be exempt. Those with salary transfers between AED 5,000 and AED 14,999 who also have a credit card, overdraft facility, or loan will also be exempt.

Finance experts have raised concerns about the financial disadvantage to low-income workers, urging banks to reconsider the increase or offer varied minimum balances based on salary ranges. Alternative options, such as using money exchanges or financial institutions for salary disbursement, are suggested to mitigate the impact on affected workers.

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