In an effort to create a more business-friendly environment in the UAE, the Government has drawn up a new competition law that will take effect from 23 August this year. On 23 August, a new competition law will come into force in the UAE. It heralds the UAE’s first introduction of merger control, prohibitions on […]
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What you need to know about FATCA
Heard of FATCA but not sure what it’s all about? The Foreign Account Tax Compliance Act (FATCA) basically means that US citizens will no longer be able to evade tax by hiding assets offshore. Elias Stephan, Managing Partner of Law House explains how this might impact this region. Under FATCA, certain US taxpayers holding financial […]
Is a common currency truly an imperative?
Robin Amlôt poses the awkward questions that enthusiasts need to address… There are two examples of how a common currency can work (or not work) that we may cite. The most immediately striking is, of course, the Euro. This we may take as an example of a dysfunctional common currency. The second example? You may […]
Exercising your Will Power
If you live in the UAE and die without a locally recognised Will, the local courts will distribute your estate according to Shari’a law… for expats, even having a Will back in your home country might not prevent this. So make sure that doesn’t happen, says Elias Stephan, Managing Partner of Law House. About two […]
Better bankruptcy?
Why making it easier to go bust could make a boom more likely… The emphasis of the new draft UAE Federal Bankruptcy Law is to create a more modern, regime, promoting a rescue or rehabilitation culture for debtors as a preferred alternative to formal insolvency procedures. The country’s existing insolvency laws date back to 1993 […]
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