SCHLÜTER GRAF with Grand Valley State University students: Doing business in the UAE

SCHLÜTER GRAF with Grand Valley State University students:  Doing business in the UAE

SCHLÜTER GRAF hosted a seminar for the students of Grand Valley State University.

In May 2017 students of Grand Valley State University (Michigan) travelled to the GCC region as part of their Arabic language and culture studies. One of their stops was at the offices of SCHLÜTER GRAF in Dubai in order to learn about the business culture in the UAE and “how to do business” in the UAE. Ms. Yulia Kasiyanova, a senior associate at the firm, gave the students an overview of the legal opportunities to do business in the UAE and using the UAE as hub for business in the Middle East and North Africa.

Since SCHLÜTER GRAF’s beginnings in the UAE in 1996, when the Dubai office was opened, the firm keeps striving to offer high quality advice to clients, understanding the clients’ needs and their businesses, and protecting their interests under the applicable laws.

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New Company Regulations in the Jebel Ali Free Zone

The Jebel Ali Free Zone Authority („JAFZA“)issued new company implementing regulations on 23.05.2016 (The Jebel Ali Free Zone Companies Implementing Regulations 2016; “IR”), which came into effect on 01.09.2016. However, JAFZA started to implement the IR in February 2017.

Apart from the existing legal company forms in JAFZ (Free Zone Establishment (“FZE”), Free Zone Company (“FZCO”) and Branch of a Foreign Company (“Branch”)), the IR introduce three new legal forms: Public Listed Company (“PLC”; similar to the Joint Stock Company in the mainland), Holding Company and Civil Company (only with the prior approval of JAFZA).

Furthermore, the IR contain the following important new provisions for FZEs and FZCOs:

  • Implementation of a standard template for the Memorandum and Articles of Association for FZEs and FZCOs (previously mandatory only for FZCOs); existing FZEs should adopt the new Memorandum and Articles of Association in due time in order to avoid penalties from JAFZA;
  • Possibility to amend the standard template for the Memorandum and Articles of Association for the FZEs and FZCOs subject to the approval of JAFZA;
  • Contribution to the share capital in kind (previously only in cash);
  • Introduction of different share classes (only for FZCOs);
  • Redemption of shares (only for FZCOs);
  • Possibility to pass a resolution in a shareholders’ meeting by way of a written circulation;
  • Possibility to participate at a shareholders’ meeting through means of modern communication (such as a video conference or telephone);
  • Pledge of shares, moveable and immovable assets.

 For more information or queries please contact Ms. Yulia Kasiyanova (yulia.kasiyanova[at]schlueter-graf.com) in our Dubai office.

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Qualified tax law specialist

Qualified tax law specialist

We congratulate our colleague Dr. Eva Kohler on qualifying as a specialist attorney for tax law. The lecturer in tax law at the technological highschool of public administration NRW and qualified specialist in tax law is at your disposal for all questions regarding tax law. She also advises as qualified specialist for criminal law in all fields of business criminal law, tax criminal law and common criminal law.

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International Arbitration

International Arbitration

We congratulate our colleagues, lawyers Ulf-Gregor Schulz and Lars Wiedemann of our branch office in Dubai for becoming member of the Chartered institute of Arbitrators (Dubai Branch) as Associates.

The international arbitration has immensely gained meaning by joining the New York Agreement of June 10th, 1958 about the recognition and execution of foreign arbitration awards in the United Arab Emirates (UAE) in recent past.

Schlüter Graf & Partner has also improved the engagement in the area of the international arbitration continuously and deputized various clients in disputes successfully in front of national and international courts of arbitration.

As a reaction to the strongly increased interest of our clients Schlüter Graf & Partner will soon publish a guide with the “international arbitration in the UAE” topic which will be provided for download on our homepage as usual.

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Press Release of German Ministry of Finance

Press Release of German Ministry of Finance

The United Arab Emirates and Germany have agreed upon a new double taxation agreement on 23 December 2008 the draft of which has not yet been published.
Apparently, the new agreement does not provide for the same advantages as the former double taxation agreement which expired on 31 December 2008.
Please find attached an unofficial English translation of the press release of the German Ministry of Finance giving some general information regarding the draft of the new double taxation agreement.

Press Release of German Ministry of Finance

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