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Find out moreThis comprehensive guide is designed to help you navigate the intricate landscape of family business and private wealth in the Middle East, where family businesses constitute approximately 60% of GDP and employ 80% of the workforce in the GCC, offering unparalleled opportunities for wealth creation and preservation.
Packed with insights, strategies, and expert advice from our talented lawyers, Legacy provides tailored solutions to the unique challenges of asset protection, succession planning, and dispute resolution in this dynamic region.Read the publication and equip yourself with the knowledge and tools necessary to thrive, whether you’re a seasoned investor, a family business owner, part of the next generation, or a newcomer exploring opportunities in the region.
Read NowThe Dubai Multi Commodities Centre (“DMCC”) has issued new Companies Regulations 2020 (“New Regulations”), along with Employment Rules, Licensing Rules, Officers Rules, Community Regulations and Health, Safety And Environment Regulations which came into effect on 2 January 2020.
The New Regulations require existing DMCC companies to undertake certain actions in order to comply whilst offering them new opportunities for their company structure. The New Regulations also make DMCC even more appealing to small and medium-sized private companies or investors.
The New Regulations replace the DMCC Company Regulations 2003 and rules and regulations issued thereunder (“2003 Regulations”).
There are a number of significant differences between the New Regulations and the 2003 Regulations. The New Regulations:
The New Regulations apply to all entities currently operating in the DMCC and are of particular interest to those who wish to take advantage of the introductions made in order to re-examine the structure of their companies, as well as those who are considering operating in the Free Zone. These include small and medium-sized private companies or investors currently exploring the option of operating in DMCC.
DMCC mandatorily requires existing companies to undertake the following actions in order to comply with the New Regulations:
Our team would be delighted to assist you with the below:
Sherif Rahman
Partner, Corporate Structuring
s.rahman@tamimi.com
Khadija Hussain
Associate, Corporate Structuring
k.hussain@tamimi.com
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