(1) Subject to paragraph 3 of this article, foreign direct investment may, by way of derogation from certain provisions of the Companies Act and other federal laws of the State, invest by decree in all sectors and economic activities of the State in accordance with the provisions of this Law, in accordance with the decisions of the Council of Ministers. Article 25 of the Code of Civil Procedure specifies the jurisdiction of the Federal Court and expressly confers jurisdiction on it for all disputes of a federal nature. The new law was published in the Federal Gazette (No. 572 of 30 November 2014). The new law will come into force on March 1, 2015. Federal Law No. 11 of 1992, as amended by Law No. 10 of 2014 on Civil Procedure, regulates the method, procedures and jurisdiction for civil, commercial and civil status disputes. It lays down the procedure for appeal and enforcement of decisions.
Legal proceedings in the United Arab Emirates are governed by federal law and depend on the civil or criminal nature. – Federal Law No. (12) of 2014 on the Reorganization of the Audit profession; – Federal Law No. (2) of 2014 on Small Projects and Small Enterprises; Federal Act No. 35 of 1992, as amended by Act No. 29 of 2005 and Act No. 35 of 2006 on the Code of Criminal Procedure, describes the method and procedures of criminal investigation, the procedure of the accused, the delivery of the judgment, the conditions for appeal to the higher courts and the enforcement of the judgment. 5. A decision taken pursuant to paragraphs 3 and 4 of this Article shall contain the legal form of the foreign direct investment project, the percentage of participation of the foreign investor, whether less than or equal to 100 per cent, the minimum share capital of the foreign investment company, all related restrictions and conditions, including the minimum percentage of employed nationals.
the incentives available for the foreign direct investment project. The decision of the Council of Ministers may exclude foreign investment companies from certain provisions of the Companies Act and federal laws of the State that are compatible with the nature of foreign direct investment projects. 1. Compliance with state federal and local laws, including protecting the environment from pollution and anything related to the maintenance of public health and safety. The Council of Ministers, acting on a proposal from the Minister and in consultation with the Ministry of Finance, shall adopt a decision fixing by decree the federal fees to be paid by foreign investment companies for the work carried out by the Ministry in the context of the application of the provisions of this Law. – Federal Act No. 35 of 1992 promulgating the Criminal Procedure Act and its amendments; (1) Without prejudice to agreements between the federal government, a local government or a related entity and foreign direct investment projects, the provisions of this Act shall apply by order to all foreign direct investment projects established and authorized in the State by decree after the application of this Act. 3.
The foreign investment company may, within fifteen (15) working days of notification of this sanction, file a written complaint with the head of the authority that imposed one of the sanctions referred to in this article. The head of the licensing authority or the competent authority with which a complaint has been filed must decide on such a complaint within twenty (20) working days from the date of its submission, failing which the complaint shall be deemed rejected. The foreign investment company may appeal any decision in this regard to the competent court within thirty (30) days from the date of notification of the decision or the date on which the complaint is deemed rejected. We Khalifa bin Zayed Al Nahyan, President of the United Arab Emirates, The new amendment contains significant changes to the procedures for seizure orders. This law by decree aims to promote and develop the investment environment and attract foreign direct investment in accordance with the development policy of the State, in particular: B. Obtain a better return and added value for the national economy. 1. The conditions and procedures for granting licences for a foreign direct investment project on the positive list are as follows: This Law shall be published by decree in the Official Gazette and shall enter into force on the day following that of its publication. G.
Preparation of regular reports on the State investment environment, monitoring and evaluation of the volume of foreign direct investment and annual flows of foreign direct investment for submission to the Council of Ministers. C. Impact on public health or the morality and values of society. For the purposes of the application of this Law by Decree, the following terms shall have the meaning given to them, unless the context indicates a different meaning: – Federal Law No. (17) of 2002 on the Regulation and Protection of Industrial Property of Patents, Designs and Designs; The changes brought about by the new law to the Code of Civil Procedure of the United Arab Emirates are important and welcome, especially those related to service.