United Arab Emirates

By Greg Mayew

The Authors

Greg Mayew
Partner
gmayew@afridi-angell.com
Tel: +971 2 610 1010

Greg Mayew joined Afridi & Angell in 2004 and is the partner in charge of the Abu Dhabi  office.  He is involved in  the   firm’s corporate and  commercial,  capital markets, construction, project finance, and banking practices. Greg holds a JD from the University of Minnesota Law School, a master’s degree from the Massachusetts Institute of Technology and a BA from the University of Denver. He is a member of the New York State Bar. Prior to joining Afridi & Angell, Greg was an associate at the London and New York offices of a leading firm.

A previous inBrief dated 7 July 2019 discussed UAE Cabinet Resolution 31 of 2019 Concerning Economic Substance Regulations (the UAE Economic Substance Regulations or the Regulations).

The UAE Economic Substance Regulations designated the UAE Ministry of Finance as the Competent Authority. One of the responsibilities assigned to the Competent Authority under the Regulations is the issuance of guidance on how the Economic Substance Test (as defined in the Regulations and discussed below) may be met for the purposes of complying with the Regulations. The Ministry of Finance issued such guidance (the Guidance)[1] on 11 September 2019.

Article 2.2 of the Guidance explains that the Regulations were issued pursuant to the global standard set by the OECD Forum on Harmful Tax Practices (FHTP), which requires companies to have substantial activities in a jurisdiction and also taking into account the standards developed by the European Union (EU), specifically the code of conduct developed by the EU Code of Conduct Group (a group responsible for the EU’s taxation policy).

Economic Substance Test

Under the Regulations, a Licensee (as defined below) engaged in a Relevant Activity (see the nine activities listed in bullet points below) must meet an Economic Substance Test in relation to each Relevant Activity carried on by such Licensee. This includes but is not limited to demonstrating that its State Core Income-Generating Activities are carried out in the UAE. The activities that constitute State Core Income-Generating Activities vary for each of the nine Relevant Activities to which the Regulations apply.

Such Relevant Activities are:

  • Banking Businesses
  • Insurance Businesses
  • Investment Fund Management
  • Lease-Finance Businesses
  • Headquarters Businesses
  • Shipping Businesses
  • Holding Company Businesses
  • Intellectual Property Businesses
  • Distribution and Service Center Businesses

This inBrief highlights thirteen topics covered in the Guidance that may be of interest to businesses affected by the UAE Economic Substance Regulations.

1.     More than one Regulatory Authority?

The Regulations contemplate that a yet-to-be designated Regulatory Authority (the Regulatory Authority under the Regulations is different from the Competent Authority) will regulate compliance with the Regulations. The Regulations read as if there will be a single Regulatory Authority for the entire UAE. However, the Guidance, in certain places, contemplates the possibility of more than one Regulatory Authority which raises the question as to whether the Regulatory Authority may be different in each Emirate?

A Cabinet Resolution appointing the Regulatory Authority (or Authorities) is awaited. For stylistic purposes, the remainder of this inBrief will assume a single Regulatory Authority.

2.     Clarification regarding definition of Licensee

The Regulations apply to Licensees. Article 1 of the Regulations defines a Licensee as “any natural or juridical person licensed by the competent licensing authorit/(ies) in the UAE, to carry out a Relevant Activity in the UAE includinga Free Zone and a Financial Free Zone.” The Guidance clarifies that every Licensee “that carries on a Relevant Activityand derives an income therefrom in the UAE, including a Free Zone or a Financial Free Zone must meet the Economic Substance Test.” This implies that a Licensee that does not derive any income from a Relevant Activity carried out in the UAE would not be required to meet the Economic Substance Test.

3.     Majority-owned government owned companies exempt

Under Article 3(2) of the Regulations, the Regulations do not apply to any commercial company (as defined in Article 1 of the UAE Commercial Companies Law[2]) in which the UAE Federal Government, the Government of any Emirate, or any governmental authority or body of any of them has any direct or indirect ownership in its share capital. By contrast, Article 3.2 of the Guidance states that the Regulations do not apply to any commercial company with at least 51% direct or indirect governmental ownership. An EU document indicates that the change to the 51% threshold was made to accommodate concerns of the EU Code of Conduct Group that exempting companies with any government ownership created a risk of circumvention of the substance requirements.

4.     Filing requirements commence with effect from 1 January 2020

Under Article 8(1) of the Regulations, a Licensee shall notify the Regulatory Authority annually of the following:

“(a) Whether or not it is carrying on a Relevant Activity.

  • If the Licensee is carrying on a Relevant Activity, whether or not all or any part of the Licensee’s gross income in relation to the Relevant Activity is subject to tax in a jurisdiction outside of the State; in all cases such Licenseeshall provide the Regulatory Authority with all information and documentation required to be submitted by it pursuant to this Resolution or any further guidance or decision issued pursuant to this Resolution.
  • The date of the end of its Financial

Under Article 8(2) of the Regulations, the foregoing annual filing shall be made at the time specified by the Regulatory Authority and in the manner approved by the Regulatory Authority. As noted above, the Regulatory Authority has not yet been identified. However, Article 4.2 of the Guidance clarifies that such filing must be made with effect from 1 January 2020. This suggests the Competent Authority believes (or assumes) that the Regulatory Authority will be appointed before 1 January 2020.

5.     List of core activities in the Regulations is not exhaustive

The Regulations require a Licensee to demonstrate that it conducts its State Core Income-Generating Activities in the UAE. Article 5 of the Regulations identifies, for each Relevant Activity, certain activities that must be carried out in the UAE.

Article 4.3(a) of the Guidance explains that the list set out in Article 5 of the Regulations “is not exhaustive” and that the list “includes the activities listed but is not limited to them.” The Guidance further explains that the general principle is that the activities listed in Article 5 of the Regulations “are regarded to be the most important activitiesthat a Licensee carrying out a Relevant Activity is expected to be carrying on in the UAE.”

6.     Directed and managed in the UAE

One of the requirements of meeting the Economic Substance Test, under Article 6(2)(b) of the Regulations, is that a Licensee must be directed and managed in the UAE in relation to its Relevant Activity. Article 4.3(b) of the Guidance explains that the aim is to ensure that there are an adequate number of board meetings held  and attended in the UAE. Article 4.3(b) of the Guidance further explains that:

“A determination as to whether an adequate number of meetings are held and attended in the UAE will be dependent on the level of Relevant Activity being carried out by a Licensee. It is expected that it must be at least one (1) meeting held in a Financial Year in the UAE. Consideration must also be given to meeting requirements prescribed under the applicable law regulating the Licensee or as may be stipulated in the constitutional documents of the Licensee.”

Additional requirements highlighted in Article 4.3(b) of the Guidance include:

  • meetings shall be recorded in written minutes and signed by attendees and such minutes are kept in the UAE;
  • quorum for such meetings shall be met and those attendees are physically present in the UAE;
  • directors shall have the necessary knowledge and expertise to discharge their duties; and
  • the minutes of board meetings must refer to all the relevant decisions taken and must be signed by directors physically

7.     Meaning of “adequate” and “appropriate”

The Regulations use the undefined term “adequate” in several places. For example, “adequate number of qualified full-time employees”, “adequate level of expenditure”. In addition, the Guidance uses the terms “adequate” and “appropriate” several times. Article 4.3(g) of the Guidance explains that businesses vary in size and therefor the employees, expenditures and premises which are adequate or appropriate for a large or medium sized business may not be adequate or appropriate for a small business and that the Regulations are not intended to impose requirements to engage employees or incur expenditures beyond what is actually required by a business.

What is adequate or appropriate for each Licensee will be dependent on the nature and level of Relevant Activity being carried out by such Licensee. But a Licensee should maintain sufficient records to demonstrate the adequacy and appropriateness of the resources utilized and the expenditures incurred.

Article 4.3(g) also explains that the requirement for adequate employees is aimed at ensuring that employees carrying out a Relevant Activity are suitably qualified to do so.

8.     Outsourcing

The Regulations permit the use of the third party service providers to satisfy certain requirements of the Economic Substance Test. Article 4.3(h) of the Guidance explains certain criteria that the third party service providers must meet including, by way of example, having adequate activities, employees, expenditures and premises in the UAE. Article 4.3(h) of the Guidance contains further elaboration and explanation of requirements for outsourcing that is not discussed herein but may be of interest to businesses subject to the Regulations who use third party service providers.

Article 4.3(h)5 of the Guidance explains that a Licensee who uses a third party service provider must demonstrate to the Regulatory Authority that outsourcing is not being done with the objective of circumventing compliance with the Economic Substance Test. This is perhaps one topic on which the Guidance may have created more potential confusion than clarification. It is not clear under what circumstances outsourcing would be deemed to be circumventing compliance.

9.     Holding company business

Under Article 6(4) of the Regulations, a Holding Company Business that derives its income solely from dividends and capital gains is subject to reduced substance requirements. Such Licensee must satisfy only two criteria:

  • compliance with requirements to submit any documents, records or information to the relevant Regulatory Authority; and
  • maintaining adequate employees and holding and managing for the Holding Company

Article 5.1 of the Guidance explains that Holding Company Businesses that undertake a Relevant Activity and derive income from such activity other than solely receiving income from equity interests do not benefit from this exemption and must meet the full substance requirements of the Economic Substance Test. The Guidance further explains that:

“A Licensee which owns other forms of assets (e.g. bonds, government securities, interest in real property) will clearlynot be a „pure equity holding’ entity (even if it also owns equity participations) and will not be treated ascarrying on holding business.”[3]

Moreover:

“Because it is possible for a Licensee to carry on more than one Relevant Activity, the fact that the Licensee is a„pure equity holding entity’ does not preclude the possibility that it may carry on one or more other relevantactivities, in which case the CIGA [Core Income Generating Activities] shall be those associated with the incomegenerated.”

10.  Headquarters business

Article 5.2 of the Guidance explains that whether an entity carries on a headquarters business for the purposes of the Regulations is entirely dependent on the services it provides to other group companies and is not dependent on its position in the group structure.

11.  High risk intellectual property activity

The Regulations identify certain activities relating to Intellectual Property Business as high risk and set out additional conditions that a Licensee carrying out such activities must satisfy. Article 5(3) of the Guidance explains that because income derived from intellectual property assets activity poses a greater risk of artificial profit shifting as compared to income from non-IP related activity, there is a presumption under the Regulations that a Licensee who carries out such activities is not complying with the Economic Substance Test. The burden is placed on the Licensee to rebut this presumption by providing sufficient evidence “demonstrating that the Licensee does and historically has exercised a high degree of control over the development, exploitation, maintenance, enhancement and protection of theIntellectual Property Asset by an adequate number of full-time employees, with the necessary qualifications, who permanently reside and perform their activities in the UAE.”

12.  Businesses should retain records for at least six years

Under Article 7(1) of the Regulations, the Regulatory Authority may make a determination that a Licensee has not met the Economic Substance Test no later than six (6) years from the end of the Financial Year to which the determination relates. Article 4.4 of the Guidance explains that while the Regulations do not prescribe a set period for the retention of information by a Licensee, it is advisable to retain information relevant to evidencing compliance for a period of at least six (6) years.

13.  Disclosure to overseas regulators

Article 9 of the Regulations addresses the exchange of information with foreign regulators. Article 9(3) states:

“Upon receipt by the Competent Authority of notification containing information that a Licensee has not met theEconomic Substance Test for a Financial Year from a Regulatory Authority pursuant to the above Clause 2, the Competent Authority shall, pursuant to an international agreement, treaty or similar international arrangementto which the State is a party, provide the information relating to such Licensee to –

  • the Foreign Competent Authority of the country or territory in which resides the parent company, the ultimate parent company, and the Ultimate Beneficial Owner of the
  • If the Licensee is incorporated outside the State, the Foreign Competent Authority of the country or territory in which the Licensee is

Article 6.4 of the Guidance explains that the Competent Authority shall provide information to the Foreign Competent Authority:

  • if a Licensee fails to meet the requirements under the Regulations for a specific Financial Year; or
  • the Licensee carries out a High Risk IP

UAE removed from European Union Tax Blacklist

The UAE Economic Substance Regulations were enacted after the UAE had been put on EU’s blacklist of non- cooperative jurisdictions for tax purposes. On 10 October 2019, the EU issued a press release announcing that the UAE has been removed the blacklist. This topic is covered in more detail in Afridi & Angell’s Legal Alert dated 10 October 2019.

Next steps

All businesses in the UAE should make an assessment as to whether they are subject to UAE Economic Substance Regulations and those that are subject to the Regulations should begin initiating steps to ensure compliance with the Regulations. While the Regulatory Authority has not yet been appointed, the Guidance states that reporting requirements will commence on 1 January 2020 so it is anticipated that the Regulatory Authority will be appointed before year end. It would be prudent to start taking steps to comply with the Regulations as soon as possible. ■

 

Footnotes

  • [1] Ministerial Decision No. 215 of 2019 on the Issuance of Directives for the Implementation of the Provisions of Cabinet Decision No. 31 of 2019 Concerning Economic Substance Requirements.
  • [2] UAE Federal Law No. 2 of 2015, as amended.
  • [3] The phrase “will not be treated as carrying on holding business” is potentially confusing. Read in the context of the entirety of Article 5.1 of the Guidance, we interpret this to mean that a Licensee owning other forms of assets such as bonds, securities , etc., would not be able to qualify for the reduced substance requirement under Article 6(4) of the Regulations. We do not interpret this phrase to mean ownership of other assets would automatically result in a company not being a holding company.

 

Afridi & Angell

Founded in 1975, Afridi & Angell is a full-service UAE law firm in its fifth decade at the forefront of the legal community. From the beginning, our hallmarks have been a commitment to quality, unsurpassed knowledge of the law and the legal environment, and crafting of innovative business solutions. Licensed in the three largest Emirates of Abu Dhabi, Dubai and Sharjah as well as the Dubai International Financial Centre, our practice areas include banking and finance; corporate and commercial law; arbitration and litigation; construction; real estate; infrastructure projects; energy; project finance; maritime (wet and dry); and employment. We advise local, regional and global clients ranging in size and sophistication from start-ups, sole proprietorships, family-owned businesses, entrepreneurs and investors to some of the world’s largest public and private companies, governments and quasi-government institutions. We attract and retain clients with our dedication to practical guidance focused on their business needs supported by decades of experience here in our home jurisdiction, the UAE.

Afridi & Angell is the exclusive member firm in the UAE of top legal networks and associations, most notably Lex Mundi, the world’s leading network of independent law firms, and World Services Group.

www.afridi-angell.com

 

Afridi & Angell’s inBrief provides a brief overview and commentary on recent legal announcements and developments. Comments and opinions contained herein are general information only. They should not be regarded or relied upon as legal advice.

© 2019, Afridi & Angell

Related Articles by Firm
Regulatory Authorities to regulate Relevant Activities in accordance with Economic Substance Regulations announced
Businesses licensed in the UAE should fast track an assessment to determine if they are subject to the regulations.
Law 6 of 2019: On the ownership of common property in the Emirate of Dubai
The New Law is an important development for Dubai as most real estate is held by way of property owned in common.
The private equity, venture capital and start-up ecosystem in the UAE: Recent developments
The changes will result in the establishment of new funds and attract more entrepreneurs and investors to the UAE.
SCA issues guidelines for financial institutions on anti-money laundering
The advent of AML and ATF guidance is a welcome step for businesses in the UAE.
Proposed New DIFC Data Protection Law
The DIFC Authority has proposed the enactment of legislation (the Proposed Law) to replace its current Data Protection Law.
New economic substance regulations in the UAE
The rules are a response to the UAE being put on the EU's blacklist of non-cooperative tax jurisdictions.
Keeping up with the trend: The New DIFC Insolvency Law
The New Law introduces many welcomed features and is a step forward in maintaining the UAE’s position as a world leading trade hub.
The New DIFC Employment Law: Key Changes
The new law will directly affect almost 24,000 employees based in the DIFC.
Merger clearance matters in the UAE
Despite the limited number of filings and the dearth of decisions, parties conducting M&A in or from the UAE should consider the impact of the competition regime.
New regulations offer welcome guidance to Anti-Money Laundering Law
The new AML Law has been shaped by international AML standards and provides several mechanisms to combat money-laundering.
Health data confidentiality on a rise in the UAE
A new law requires businesses that use information and communication technology for processing health data to ensure its confidentiality, accuracy and validity.
New Tawazun economic programme policy guidelines issued
It is hoped that the new programme will enable defence contractors to identify more accessible opportunities to generate offset credits.
New administrative fines imposed by the UAE Insurance Authority
Insurance and reinsurance providers should review the resolution and the list of violations to ensure their compliance.
Significant changes to UAE’s Civil Procedure Code
While the changes are welcome, they put pressure on litigants to plead their cases within relatively short time periods ...
New long-term residency visas in UAE
In a welcome development, the new law introduces long-term residency visas for four categories of persons.
New promotion regime for domestic funds
A new agreement could make the UAE a much more attractive place to establish funds.
Federal Penal Code amendments
The amendments are designed to make the UAE's Penal Code consistent with other recent federal legislation and current federal enforcement policies.
Netting arrangements made enforceable in the UAE
For decades, banks and other counterparties in the UAE have obtained financial services from foreign financial institutions. Industry bodies, such as the International Swaps and Derivatives Association (ISDA), the International Capital Market Association and the International Securities Lending Association, have ...
New anti-money laundering law
The new law introduces subtle but important changes to the AML landscape in the UAE.
The UAE's new Foreign Direct Investment Law
Majority foreign ownership is not yet a reality, but the framework is now in place.
Significant precedents from the DIFC courts
Afridi & Angell successfully defended an anti-suit injunction, an application to exclude evidence and obtained a document production order.
New services by Dubai Rental Disputes Centre
The Rental Good Conduct Certificate service is a first-of-its-kind initiative in the world.
ADGM announces tech start-up licensing regime
The licence provides access to a Professional Services Support Programme aimed at allowing entrepreneurs entry to a community of businesses, financial services and professional advisers.
Dubai relaxes rules on filing appeals before the Court of Cassation
The Decree provides that appeals to the Court of Cassation must be filed within 60 days of the judgment of the Court of Appeal.
Off-plan sales in Dubai: Risks and rewards
Whether buyers are looking to expand their real estate portfolio or buyers are simply looking to find their ideal home, great deals can be found in Dubai’s off-plan real estate sector ...
The UAE Federal Arbitration Law: A First Look
The approval of the long-awaited law by the Federal National Council was announced in March this year.
Legal reforms in Abu Dhabi
Abu Dhabi has introduced new rules governing the functioning of the Emirate’s judiciary.
UAE: Off-plan sales: risks and rewards
Great deals can be found in Dubai’s off-plan real estate sector, but it is critical that prospective buyers do their homework ...
The New UAE Pledge Law – Security Registration
UAE Federal Law 20 of 2016 introduced a new regime for registering a pledge over moveable assets which are pledged as security for the repayment of a debt ...
UAE VAT Designated Zones Defined
A Designated Zone is required to be a specific fenced area with security measures and Customs controls in place ...
Certificate of Good Conduct Required for all UAE Employment Visas
New requirement will be introduced shortly ...
Dubai: Dawn Raids – Do you have a policy in place, and is it fit for purpose?
How you handle a dawn raid will have a significant impact on the discussions and negotiations that are sure to follow.
Dubai: Changes to Law Allowing Developers to Terminate Off-Plan Sales Contracts
An important development that will assist developers who are facing a difficult real estate market ...
UAE VAT Executive Regulation Update: Free Zone Guidance
The UAE Ministry of Finance has announced the Executive Regulation for the Federal Decree-Law ...
Opportunities in Dubai’s Healthcare Sector
Dubai is the fastest growing healthcare market within the GCC and is becoming an increasingly attractive sector for investors. Afridi & Angell explain the key drivers and options available to investors ...
VAT registration in the UAE has commenced
The United Arab Emirates Federal Tax Authority has commenced accepting registrations for Value Added Tax through its online portal ....
UAE: VAT and Excise Tax
The UAE has issued substantive law on Value Added Tax (VAT) and Excise Tax ...
New Ministerial Decision brings clarity to Private Joint Stock Companies
The private joint stock company is one of the forms of company contemplated by UAE Federal Law No. 2 of 2015 concerning commercial companies ...
Be VAT ready - Tax Procedures Law is already here
Under the VAT regime, businesses will be collecting taxes on behalf of the government and will file tax returns accordingly ...
UAE – Centre for Amicable Settlement of Disputes update
Centre for Amicable Settlement of Disputes can no longer mediate disputes when a bank is a party to such dispute ....
New UAE Funds Regime
The UAE has embarked on an ambitious undertaking by introducing new business friendly mutual funds regulations to stimulate the UAE funds industry and provide the foundation for a more developed regional funds regime in the Gulf Cooperation Council ...
New UAE Pledge Law over Movable Assets
The new Pledge Law of the UAE was enacted on 12 December 2016 ...
Doing Business in Iran: Donald J. Trump; Mining Investment Opportunities
The election of Mr. Donald J. Trump as President of the United States has resulted in much consideration by corporates of existing strategies with respect to Iran...
The UAE Competition Law Clarified
Two Cabinet Decisions have been issued which provide guidance on the implementation of the Competition Law, particularly on market share thresholds and on small and medium establishments.
Potential Criminal Liability for Arbitrators and Experts in the UAE
The UAE Penal Code was amended to introduce the concept of criminal liability for arbitrators, experts, and translators who issue dishonest and partial decisions and opinions.
The New UAE Bankruptcy Law
Perhaps the most important new feature of the new Law is the introduction of a regime that allows for protection and reorganization of distressed businesses ...
Doing Business in Iran: The Momentum Builds
The momentum for doing business in Iran is expected to increase at an even greater pace after the November US elections.
Proposed Insurance Authority Decision Concerning Marketing of Insurance Policies by Banks in the UAE
The Emirates Insurance Authority prepared a draft regulation concerning marketing of insurance policies by banks in the UAE.
The thing about … Amjad Ali Khan
Recently in Dubai, ASIAN-MENA COUNSEL’s Patrick Dransfield photographed Amjad Ali Khan, the co-founder and Managing Partner of Afridi & Angell and also put to him a series of questions on behalf of the <...
UAE Ministerial Decision No. (272) of 2016
The Ministerial Decision No. (272) of 2016 addresses the scope of Article 104 of Federal Law No.2 of 2015, stating which articles relating to public and private joint stock companies apply to limited liability companies.
Doing Business in Iran: the banking bottleneck
With the easing of sanctions against Iran, vast business opportunities have opened up. The challenge is whether and how to participate in such a potentially phenomenal market without taking undue risks.
Doing Business in Iran: Life After (Secondary) Sanctions
The legal landscape for doing business in Iran has changed significantly since the easing of certain Iran related sanctions.
Doing Business in Iran: Life After (Secondary) Sanctions
The legal landscape for doing business in Iran has changed significantly in the past seven months ...
UAE Legal Bulletin
Updates on the possibility of a Value Added Tax, the new PPP Law and other developments which companies doing business in the UAE should know
UAE's New Labour Regulations Take Effect January 1, 2016
A number of recently announced initiatives could introduce potentially significant changes to the rules governing the workforce in the UAE.
Introducing the Dubai World Trade Centre Free Zone
Aside from its central location and its world class facilities, the Dubai World Trade Centre Free Zone offers a wide range of services for companies.
UAE Legal Bulletin July-August 2015
Insights into the new Commercial Companies Law and relevant corporate updates which can help companies conduct business in the UAE, particularly in Dubai
The New UAE Commercial Companies Law – A First Look
We highlight the changes which the new UAE Commercial Companies Law (Federal Law No.2 of 2015) introduces.
Do I need a DIFC will?
With the opening of the Wills and Probate Registry in the DIFC, it is now possible to register a will in Dubai and have a high degree of confidence that it will be enforced.
DFSA imposes record fine on Deutsche Bank
The Dubai Financial Services Authority (DFSA) imposes its largest fine to date on Deutsche Back AG Dubai (DIFC Branch), sending a strong signal that DFSA is both independent and unafraid to take on well-resourced opponents.
Abu Dhabi Global Market starts first phase of activities
Effective 15 June 2015, the Abu Dhabi Global Market began accepting license applications from existing non-financial service tenants of Al Maryah Island that have either a private limited or branch office legal structure.
Dubai Statistics Center – you may be next!
Companies in the Emirate of Dubai have recently been receiving questionnaires requesting detailed information about their business, including financial information...
Free Zones in the UAE – an overview
Strategically located between Europe, Africa and Asia, the United Arab Emirates has become a hub for trade and commerce throughout the world ...
UAE Competition Law - All bark and no bite?
Federal Law No. 4 of 2012 on the regulation of competition (the “Competition Law”) introduced a regime for the regulation of anti- competitive behavior in the UAE which previously did not exist ...
Related Articles
Can backdating be acceptable?
The effective date of a contract under Vietnamese laws.
Amendment to the Consumer Protection Act 
The Act strengthens the law relating to the safety of products and services.
Regulating the sale and provision of digital content through mobile cellular networks
Regulations on digital content are becoming more relevant as investor interest in the Indonesian market rises.
Related Articles by Jurisdiction
Dispute Resolution Special Report
In the latest issue of Asian-Counsel, we uncover the lofty aims of several arbitration centres in the region. We also receive comprehensive updates from a host of leading law firms, and the SIAC, as to the state of dispute resolution ...
UAE Ministerial Decision No. (272) of 2016
The Ministerial Decision No. (272) of 2016 addresses the scope of Article 104 of Federal Law No.2 of 2015, stating which articles relating to public and private joint stock companies apply to limited liability companies.
Latest Articles
Can backdating be acceptable?
The effective date of a contract under Vietnamese laws.
Amendment to the Consumer Protection Act 
The Act strengthens the law relating to the safety of products and services.