Background and Purpose The Dubai International Financial Centre (DIFC) has enacted Digital Assets Law No. 2 of 2024, which updates existing regulations significantly. This new law offers a precise legal definition of digital assets and outlines the procedures for their control, transfer, and management. The new legislation greatly strengthens the DIFC’s securities regime, delivering enhanced clarity, certainty, and security for digital asset...
Laws and policies play a crucial role in directing the real estate market. Changes in tax policies or real estate regulations can affect your property acquisition. As Dubai advances as a global Real estate hub, such issues present a variety of challenges for investors and buyers. We highlight below some of the most common risks and legal consideration to take into account on purchasing a property. Importance of Reading Purchase Contract Terms...
Off-plan property sales are a prevalent transaction in the property market and major contributor to the economy of the Emirate. Arbitration is an equally prevalent means of dispute resolution in the Emirate, but can the two be married? The admissibility of claims under arbitration remains a contentious issue, particularly within the framework of UAE law where only matters permissible for conciliation are eligible for arbitration. Pursuant to...
Dubai’s real estate market is a significant vivid economic sector that is regulated by a unique set of laws. Disputes frequently arise between landlords and tenants in connection with the termination of tenancies and the eviction of properties, that the legislator (in order to safeguard the tenant rights, and ensure the stability of Dubai real estate rental sector) set clear rules and principles to organize eviction by the landlord and...
What is the law regulating commercial agencies in UAE? The Federal Law No. 3 of 2022 concerning the Regulation of Commercial Agencies applies to the relationship between the principal and the commercial agent and regulates, inter alia, the creation and the registration of the agency, its commencement, existence, termination and the rights and obligation that may arise out agency relationship. The law came into effect on 15 June 2023 and it...
