Doing Business in the UAE September Alan Wood and Nigel Wilson Pinsent Masons LLP Dubai Branch

Transcription

1 Doing Business in the UAE September 2009 Alan Wood and Nigel Wilson Pinsent Masons LLP Dubai Branch

2 Introduction The Legal Framework of the UAE Legal Issues faced operating in the UAE Trading from Overseas Establishing in the UAE Operating in the UAE Growing your business in the UAE If things go wrong The broader Gulf region Pinsent Masons in the Gulf Questions

3 Legal Framework of the UAE Civil law jurisdiction Influence of Sharia law Laws evolving to reflect Emirates growth Real Estate Insolvency Official Language - Arabic Hot topics Transparency/Availability of Information Corporate Governance

4 Trading from Overseas Fly in fly out Relationship culture If things go wrong Agents and Distributors Agents Exclusivity Route to market vs local protectionism Termination rules/restrictions Developing position Joint Ventures Choice of JV partners Strength of connections Twin track management

5 Establishing in the UAE Legal restrictions for certain industries/services Documentation requirements, notarisation and legalisation Local sponsors/shareholders UAE legal requirements Shareholders agreements Trading across the Emirates Free zone companies LLC s, branches and Representative offices Costs of establishment Visas, accommodation, cost of living Pay as you use taxes

6 Operating in the UAE Intellectual Property Legal protection Significance in JV s Data Protection Employment Legal Requirements Ministry of Labour contracts Dismissals and restrictive covenants

7 Operating in the UAE Cont d Real Estate Linkage to Trade Licence Legal Framework still evolving Freehold Ownership Only applicable in Dubai and Limited to Freezones Buying / leasing property Process, documentation and registration Renting One Cheque Rent Contract New developments Escrow Accounts Strata Laws

8 Growing your business in the UAE Acquisitions Availability of information Proof of ownership Funding and security Exit Options

9 If things go wrong Litigation Governing Law UAE, Freezones (especially DIFC) and Foreign Venues for Disputes UAE Courts Dubai International Arbitration Centre ( DIAC ) DIFC Courts LCIA Arbitration Centre Enforcement of Judgements Domestic DIAC / DIFC International New York Convention Personal Liability Security for borrowings Health & Safety

10 The broader Gulf region UAE as a hub GCC The Levant North Africa Indian sub-continent An international trade crossroads

11 Pinsent Masons in the Gulf Established Partners, 24 Lawyers Regional Lawyers and Arabic speakers Support from Partners and 1100 Lawyers in the UK and Asia Pacific Full service offering Strategic Alliance with Salans Middle East Regional Network Number 1 ranked firm for Construction / Infrastructure in the Gulf Sector Focus Banks Construction / Infrastructure Energy Insurance Manufacturing Public Sector Real Estate Retail and Leisure Support Services Technology

12 Questions?

13 Working hard to make it easier LONDON DUBAI BEIJING SHANGHAI HONG KONG SINGAPORE OTHER UK LOCATIONS: BIRMINGHAM BRISTOL EDINBURGH GLASGOW LEEDS MANCHESTER Pinsent Masons LLP is a limited liability partnership registered in England & Wales (registered number: OC333653) and regulated by the Solicitors Regulation Authority. The word 'partner', used in relation to the LLP, refers to a member of the LLP or an employee or consultant of the LLP or any affiliated firm who is a lawyer with equivalent standing and qualifications. A list of the members of the LLP, and of those non-members who are designated as partners, is displayed at the LLP's registered office: CityPoint, One Ropemaker Street, London, EC2Y 9AH, United Kingdom. We use 'Pinsent Masons' to refer to Pinsent Masons LLP and affiliated entities that practise under the name 'Pinsent Masons' or a name that incorporates those words. Reference to 'Pinsent Masons' is to Pinsent Masons LLP and/or one or more of those affiliated entities as the context requires. For important regulatory information please visit: Pinsent Masons LLP