Al Reyami Advocates and Muhyealdeen International Legal Consultants is comprised of highly qualified lawyers with extensive experience in Litigation matters. This experience and practice in the local courts ensures the very best chance of success in securing the right judgment for you. A thorough and in-depth understanding of the UAE culture and its legal process is crucial in navigating the system hand in hand with real time current knowledge of the law.
We cover all aspects of litigation including but not limited to commercial, financial, transport, banking, construction and employment. A significant portion of our past and current case load concentrates on Commercial and Real Estate development disputes which rely on and further enhance our knowledge and understanding of these specialist areas.
Our record of success in these matters has led to our involvement and representation of clients ranging from individuals, international corporations and government bodies.
The Dubai International Financial Centre (“DIFC”) was launched in accordance with United Arab Emirates (UAE) Federal Decree No. 35 of 2004 as a part of Dubai’s strategic vision to diversify its economic resources and attract capital and investments in the region. It is a Financial Free Zone defined in Federal Law No. 8 of 2004. An independent jurisdiction within the UAE, DIFC is empowered to create its own legal and regulatory framework for all civil and commercial matters.
The following three independent bodies have been established at the DIFC to enable and support the growth and development of businesses in the Centre: the DIFC Authority, the Dubai Financial Services Authority (“DFSA”) and the Dispute Resolution Authority (“DRA”).
FEDERAL LAW NO. 8 OF 2004 (ENGLISH / ARABIC)
Federal Law No. 8 of 2004 on “The Financial Free Zones in the United Arab Emirates” (the Financial Free Zone Law) mainly.
Allows the creation of a Financial Free Zone in any Emirate of the UAE, by a Federal Decree.
Exempts the Financial Free Zones and the Financial Activities from all Federal civil and commercial laws.
Confirms the application of Federal criminal laws in the Financial Free Zones, including the Federal Laws on Anti-Money Laundering;
Prohibits DIFC authorised firms from dealing in “deposit taking from the State’s markets […] [and] in the UAE Dirham.
Restricts DIFC authorised insurers’ dealings in the State to carrying out re-insurance activities.
DUBAI LAW NO. 9 OF 2004 (ENGLISH)
Dubai Law No. 9 of 2004 on “The Establishment of the Dubai International Financial Centre” acknowledges the creation of the DIFC and:
Recognises the financial and administrative independence of the DIFC
Creates the DIFC centre bodies, which include the DIFC Authority, DFSA and DRA.
Exempts the DIFC from Dubai laws and regulations, under certain conditions.
CABINET RESOLUTION NO. 28 OF 2007 (ENGLISH / ARABIC)
Cabinet Resolution No. 28 of 2007 on “Implementing Federal Law No. 8 of of 2004 on Financial Free Zones” further detailed certain provisions of the Financial Free Zones Law.
Dispute Resolution Authourity (DRA)
Originally formed under Dubai Law No. 9 of 2004, DIFC Courts acted as an independent administration of justice for resolving all civil and commercial laws. In 2014, amendments to some provision of Law No. 9 of 2004 saw the establishment of the Dispute Resolution Authority (DRA) within the Dubai International Finance Centre (DIFC). The Dispute Resolution Authority is comprised of three authorities: DIFC Courts, which was established by virtue of Dubai Law No. 12 of 2004, as well as the Arbitration Institute and any other tribunals or ancillary bodies established in accordance with Article 8(5)(b) of this Law.
Contact our office to explore the possibilities with our team to fit your needs.