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Welcome to the March edition of Hadef Highlights – your bi-monthly update of all things legal and regulatory in the UAE and beyond.
Development management agreements (DMAs) have become increasingly prevalent in the United Arab Emirates real estate sector due to the rising cost of land. These agreements should provide a structured framework that allows landowners and developers to collaborate efficiently on real estate projects. The growing complexity of large-scale developments and dynamic nature of the UAE’s property make DMAs an attractive option for facilitating successful project execution while balancing the interests of the parties.
Resolution No. (138) of 2024 (“Resolution”) issued by the Ministry of Economy aims to regulate the registration of branches and representative offices of foreign companies. The Resolution provides new rules in relation to branches of foreign companies and covers all types of representative offices, including regional liaison offices, management offices and representative offices of foreign banks.
A wide-ranging and important new law has just been issued in respect of the Dubai International Financial Centre (DIFC) Courts. Law No. (2) of 2025 pertaining to the DIFC Courts (the New Law) has been signed by HH Sheikh Mohammed bin Rashid Al Maktoum in his capacity as Ruler of Dubai and will take effect on the day when it is published in the Official Gazette.
The DIFC is proposing amendments to its data protection law and has released a consultation that closes on 25 March 2025. The proposed amendments include broadening the law’s extraterritorial scope, introducing additional obligations regarding the sharing of personal data with public authorities, allowing data subjects to bring a private action in the DIFC courts without first making a complaint to the DIFC’s Commissioner of Data Protection, and introducing and updating various fines.
Welcome to the first edition of our Financial Crime & Regulatory Investigations newsletter – White Collar Watch. In an era of complex global commerce, regulatory scrutiny, and evolving financial landscapes, the challenges faced by businesses in the UAE and beyond have never been more significant.
The UAE has taken significant action to combat financial crime with the introduction of a new Federal Decree-Law, bringing vital enhancements to its frameworks for anti-money laundering (AML), combating of the financing of terrorism (CFT), and illegal organization financing.
The UAE is a complex jurisdiction, comprising a number of sub-jurisdictions. This presents challenges in terms of combating money laundering and financial crime.
After the UAE was placed on the FATF’s "grey list" in March 2022 due to findings of deficiencies in its AML, CTF and sanctions compliance, prompt remedial action was taken, and by June 2023 the FATF recognized in its interim assessment the UAE's significant progress, noting improvements in mutual legal assistance requests, enhanced capabilities of the Central Bank’s Financial Intelligence Unit and a notable increase in effective investigations and prosecutions.
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