This issue is filled with great insights and expert commentary on areas that are relevant to the legal landscape and highlight how the business community is embracing technology, media and telecommunications. There are various topics covered, from new ways of working and digital transformation in the finance sector to data protection regulatory updates and guidance. We also have a series of articles that focus on e-commerce across a number of jurisdictions.
You will also find insights from our lawyers around real estate analytics, tech trends, and data centres.
We hope this edition of Law Update provides some useful food for thought – enjoy the read!Take a read of the edition
The Dubai Multi Commodities Centre (“DMCC”) has issued new Companies Regulations 2020 (“New Regulations”), along with Employment Rules, Licensing Rules, Officers Rules, Community Regulations and Health, Safety And Environment Regulations which came into effect on 2 January 2020.
The New Regulations require existing DMCC companies to undertake certain actions in order to comply whilst offering them new opportunities for their company structure. The New Regulations also make DMCC even more appealing to small and medium-sized private companies or investors.
The New Regulations replace the DMCC Company Regulations 2003 and rules and regulations issued thereunder (“2003 Regulations”).
There are a number of significant differences between the New Regulations and the 2003 Regulations. The New Regulations:
The New Regulations apply to all entities currently operating in the DMCC and are of particular interest to those who wish to take advantage of the introductions made in order to re-examine the structure of their companies, as well as those who are considering operating in the Free Zone. These include small and medium-sized private companies or investors currently exploring the option of operating in DMCC.
DMCC mandatorily requires existing companies to undertake the following actions in order to comply with the New Regulations:
Our team would be delighted to assist you with the below: