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The UAE Ministry of Finance (MoF) has released Ministerial Decision No. 261 of 2024 (MD261) on Unincorporated Partnerships, Foreign Partnerships and Family Foundations. MD261 repeals Ministerial Decision No. 127 of 2023 and is enacted with retrospective effect from 1 June 2023.
Welcome to the November edition of Hadef Highlights – your bi-monthly update of all things legal and regulatory in the UAE and beyond.
In this article Ghalib Mahmoud, Partner, Dispute Resolution – Restructuring & Insolvency together with Abdallah Doudin, Associate, Dispute Resolution – Restructuring & Insolvency, consider the implications of this precedent, exploring the risks for managers and shareholders in bankruptcy/insolvency cases and how liability may be avoided.
On 24 October 2024 the UAE’s Federal Tax Authority (FTA) issued a new Corporate Tax (CT) guide on Real Estate Investment for Natural Persons (the Guide). The Guide provides general guidance to natural persons on the taxation of real estate investment income.
On 15 July 2024, the DIFC Prescribed Company Regulations (“New PC Regulations”) were implemented, replacing the Prescribed Company Regulations issued in 2019.
In this Tax Newsflash, our Head of Tax Theunis Claassen together with Associate, Tyra Yah, highlight certain noteworthy amendments.
Lenders in the UAE face significant risk when a property owner’s title is annulled or deemed defective, potentially rendering mortgages invalid. This article explores the legal challenges, including the implications of Articles 1401(1) and 1402 of the UAE Civil Code, and provides recommendations for mitigating the risk.
Welcome to the September edition of Hadef Highlights – your bi-monthly update of all things legal and regulatory in the UAE and beyond.
The Securities and Commodities Authority issued Decision No.25/RM/2024 on the Regulation of Special Purpose Vehicles on 19 July 2024 (the Decision). The Decision, which applies “onshore” UAE (i.e., to the exclusion of the financial freezones), defines and categorises special purpose vehicles (SPVs), prescribes the application process for SPVs, sets out the duties and obligations of the person managing the SPV, and describes the circumstances in which SPVs may be terminated or liquidated.
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