• Corporate Law/ Family Law/ Legal Update/ Private Client

    Davidson & Co admitted to prestigious Legalink global network

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    Davidson & Co is delighted to announce that the firm has been admitted into the prestigious Legalink network, a global legal network comprising more than 60 individually approved and selected law firms from around the globe.

    Davidson & Co prides itself in its ability to offer a full service to clients, and by becoming a member of Legalink, Davidson & Co is now in a position to not only offer clients in-depth legal knowledge of proceedings in the UAE, but also access to dependable, first-hand legal advice from over 3,000 professionals worldwide.

    Davidson & Co recognises that in our ever expanding and internationalised economy, our clients’ private wealth and assets are no longer confined to one jurisdiction, and this most recent accolade cements the firm’s goal to understand the needs of its clients, add value whenever possible, and to ensure ongoing development and success.

    Further information on Legalink or its members can be found at https://www.legalink.ch.

    Alternatively, please contact either Victoria Smylie at vsmylie@davidsoncolaw.com, or Yousif Ahmed at yahmed@davidsoncolaw.com, both of whom would be delighted to answer any questions you may have on the network.

  • Uncategorized

    6-month UAE visa announced for job seekers

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    The UAE Cabinet have recently announced plans for a six-month visa which provides for individuals who have overstayed their current visa but wish to continue working in the country.

    The move will be welcomed by residents looking for employment and will replace the current system whereby individuals are either provided with a grace period of only 30 days to change their visa status or are required to exit the country and re-enter on a new visa.

    Individuals wishing to adjust or renew their current visa will be able to do so for a fee without also having to leave and re-enter the country.

    Further proposed amendments include a free 48-hour visa for transit tourists and the option for individuals who entered the UAE illegally to leave voluntarily with a “no entry” stamp for two years.

    The new visa rules are intended to be introduced in the fourth quarter of 2018 with the specific costs and procedures to be announced in due course.

    To find out more about visas in the UAE and for help with employment law or any other legal requirements please get in touch.

  • Corporate Law/ Economy

    Ministry of Economy: 100% foreign investment proposed for both mainland and free zone companies within the UAE

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    The UAE consists of various corporate structures ranging from sole proprietorships to fully fledged private companies. The mainland companies as well as the businesses operating within the free zones, comprise mostly of Limited Liability Companies (LLC).

    At present, the rule is that only the companies based within the free zones give the foreign investor a full 100% right to ownership of their business. The law within the on-shore civil law jurisdiction that governs companies outside of the free zones in the UAE, requires an Emirati national to possess a majority ownership of 51% while the investor can hold only a 49% ownership. This was done to boost local entrepreneurship and to stimulate national business growth.

    The United Arab Emirates has however proposed a new resolution that encourages greater FDI (Foreign Direct Investment) by way of providing sole ownership to foreign investors, without the need for an Emirati national to be a majority stakeholder in the business.

    Recently in May, at the UAE Cabinet meeting chaired by His Highness Shaikh Mohammad Bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, the regulation for businesses within the free zones was amended to now allow foreign investors to own a full 100% ownership of their companies in the free zones.

    It is unclear as to when the resolution will be implemented but Hamad Bu Amim, President of the Dubai Chamber of Commerce and Industry, has stated that, “The move sends a clear message that the UAE is a competitive market which is open to international investors and conducive to business growth. At the same time, I expect that the new measures will help raise the UAE’s global profile as a preferred investment destination, positively impact the local business environment and ultimately enhance the country’s economic competitiveness”.

    For more information on company set up in the UAE or any other legal requirements please get in touch with Davidson & Co today.

  • Economy/ Employment/ Family Law

    Visa amnesty begins in the UAE

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    Starting August 1 2018, the UAE government have granted a three-month general visa amnesty for foreigners violating the residency law.

    All individuals who are overstaying in the country can either regularize their visa status legally or exit the country without paying overstay fines.

    For those who wish to leave the UAE, amnesty-seekers have to get an exit permit and emergency certificate (if they are without a passport) and have a flight booked for within 10 days of making an application.

    For those who wish to stay in the UAE, individuals can regularize their status if they have a job offer or apply for a six-month temporary visa to search for a new job. Additionally, absconders can get an absconding case closed for a nominal fee.

    The amnesty will run until October 31 3018 with a possible two-month extension depending upon the circumstances.

    For any of your visa, employment or company set up requirements please do not hesitate to get in touch.