Category: Insights

Breaking Barriers: Bringing a new, modern and progressive model for international law firms in the UAE

Breaking Barriers: Bringing a new, modern and progressive model for international law firms in the UAE

Despite our strong legacy, Yungo Law is all about the future – bringing a new, modern and progressive model for international law firms in the UAE. I believe that creating a human-centric, caring law firm, with a truly flexible working culture where everyone can thrive, is not only good for our people but good for ... continue reading
Account Law

Dubai’s Escrow Account Law

Constituting part of the on-going efforts to move away from the burst bubble of 2008, the government of Dubai has applied extensive measures to protect the real estate sector of the Emirate. The authorities have since been consistently adamant in increasing the confidence in foreign investors in the booming real estate sector. Part of the ... continue reading
Real Estate Marina

Dubai Real Estate Sector Outlook for 2016

Overview As the world worries about oil prices and regional conflicts, the stability seen in Dubai and the United Arab Emirates and its diversified economy continues to attract investment. This continued vision for diversification of the U.A.E.’s economy, and strong population and tourism growth continues to place Dubai as the principle hub of commerce in ... continue reading
Expo 2020

Dubai South, City of Tomorrow, Home of Expo 2020

Just the Beginning Last month, Lionel Messi, possibly the most well-known football player in the world and winner of the 2015 FIFA Ballon d’Or, the prestigious trophy awarded to the world football player of the year, signed up to be the first global ambassador for the Expo 2020 Dubai South. Expo 2020 Since the first ... continue reading
Mirror Wills - Yungo Law

CCL Update

In brief Introducing specific changes and amendments to the commercial companies law in the UAE, Federal Law no. 2 of 2015 concerning Commercial Companies (the “CCL”) has replaced Federal Law no. 8 of 1984 concerning Commercial Companies on 1 July 2015. The CCL requires existing UAE companies and corporate entities, specifically limited liability companies, to ... continue reading
Bahrain’s Economic Vision: 100% Ownership to Foreign Investors

Bahrain’s Economic Vision: 100% Ownership to Foreign Investors

Overview The Bahrain Ministry of Industry and Trade has approved a change to the business ownership percentage of foreign investors. Cabinet on 18 July, 2016 has passed a decision to increase the percentage so that foreign investors will be able to acquire 100 percent business ownership in various sectors. The amendment to the Commercial Companies ... continue reading
Inheritance-Yungo Law

Wills and Asset Protection for Non-Muslim Dubai Expats

Dubai has long been famed for its innovation and ground breaking projects, from Burj Khalifa, the world’s tallest building, to the Solar Park project, which will be the largest single-site solar project in the world and generate enough energy to power 800,000 homes by 2030. This innovation has extended to all areas of life and ... continue reading
Governance-Yungo Law

UAE Bankruptcy Law: The Landmark Law Spells Relief for Businesses in times of Financial Difficulties

A meeting held by Cabinet in Abu Dhabi has resulted in the adoption of a new Federal Law on Bankruptcy in the UAE. The final draft of the new federal bankruptcy law is expected to have a positive impact on the national economy, aimed at “strengthen[ing] the legal sustainability and attractiveness of the investment environment ... continue reading
Employment-Yungo Law

UAE to Begin Sharing Financial Records with Other Jurisdictions

In an attempt to prevent transnational tax evasion, the OECD (the Organisation for Economic Cooperation and Development) introduced the Common Reporting Standard (also known as ‘CRS’). The CRS is a system implemented to facilitate the automatic exchange of financial information of individuals and entities between participating jurisdictions. Participating jurisdictions produce CRS reports on an annual ... continue reading
Manufacturing- Yungo Law

VAT, the UAE, and the Free Zones

On 1 January 2018, laws imposing a VAT on the supply of goods and services in the UAE came into effect. In this article, we provide you an overview of the VAT scheme and explain in which circumstances it applies, including highlighting regulations made last month which finally clarify the VAT-status of the UAE Free ... continue reading
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