The United Arab Emirates (UAE) government passed some ground-breaking legislation in the past months that will change the way investors operate their business.
- Among other things, the UAE Cabinet passed (i) new economic substance requirements and (ii) the long-awaited Positive List.
- The Dubai Free Zone Council has announced that it will issue its One Free Zone Passport, allowing free zone entities to operate throughout all of Dubai’s free zones.
- The Jebel Ali Free Zone Authority has announced the implementation of an insurance system for employees as well as of long-term visas for employees of JAFZA companies.
- The DIFC Wills Service Centre, in turn, recently enacted new Registry Rules, allowing testators to, among other things, include moveable and immovable assets outside of Dubai and Ras Al Khaimah into a DIFC Will.
Please find attached out latest newsletter which provides you with an overview of the aforementioned reforms.