United Arab Emirates, new commercial Law

The UAE has recently passed a new commercial companies law and approved some key changes to its public takeover regime.

1. New UAE Commercial Companies Law

UAE Federal Law No. (2) of 2015 Concerning Commercial Companies (2015 CCL) was published in the Official Gazette on 31 March 2015 and comes into force on 1 July 2015.

The 2015 CCL is substantially similar to the 2013 draft of the Commercial Companies Law (2013 Draft CCL). The key differences from the 2013

An unexpected surge in production coupled with weakened global demand has resulted in a 50 percent drop in the price of crude oil since June 2014 and currently averaging US$50 a barrel. The Organization of the Petroleum Exporting Countries (OPEC) announced it would leave market forces to determine crude oil price and would not cut oil output. The current oil price is the lowest it has been since Spring 2009. As oil and gas companies begin to

The Dubai Chamber of Commerce and Industry has reported a 24 percent increase in newly registered companies since last year; in part due to the recent successful World Expo 2020 bid, among other positive economic forces. As companies look to establish in the UAE, the Gulf state’s economy is expected to boom across many sectors including trade, logistics, tourism and finance, in the process creating thousands of jobs. The following are 3 important issues to consider regarding employment in