The workshop, which was attended by Dubai Chamber members, lawyers and legal consultants, investors, contract specialists, general managers and business owners, provided insights into the provisions of the new Commercial Companies Law while assessing its impact on companies operating in the country.
Ms Jehad Kazim, Director, Legal Services, Dubai Chamber , said: “The new UAE Commercial Companies Law No. 2 which replaced Federal Law No. 8 of 1984 came into force in July this year and aims to promote the rules of governance and corporate social responsibility, protect the rights of shareholders and partners, and support the flow of FDIs to the country.”
She further stressed that companies in the UAE have been given a year from the launch date to comply with the provisions of the new law therefore it is of prime importance to understand how this law impacts a company whether it is a Limited Liability Company (LLC) or a Public Joint Stock Company (PJSC).
“This workshop which dealt with the provisions of the new Commercial Companies Law for foreign companies while also highlighting how different the new law is from the previous law will go a long way in helping UAE companies to adopt the new law within the set time limit,” she added.
The workshop was conducted by Dr. Habib Al Mulla, Chairman, Mazen Boustany, Partner, and Jayshree Gupta, Partner, Baker&McKenzie Habib Al Mulla, a member of Baker & McKenzie International, a Swiss Verein.
Commenting on the workshop, Al Mulla said: “Organisations conducting business in the UAE are advised to carefully review the text of the new Commercial Companies Law and to seek legal advice before proceeding with any activity or act that has been re-regulated by the new Commercial Companies Law. We are pleased for our cooperation with Dubai Chamber in holding this seminar. Such initiatives benefit not only the participants but the community in general.”
Dubai Chamber regularly organises training, seminars and workshops to serve the business community in boosting their trade and contributing to the economic growth of Dubai.
Introducing an essential new addition to MEA Market’s roster of awards, the inaugural Middle East CEO of the Year Awards 2023!
Visit our awards hereMEA Markets is proud to announce the return of the MEA Business Awards 2023, which stands as a testament to the remarkable achievements of businesses spanning the Middle East and Africa region! This prestigious awards programme returns for its seventh year and aims to recognize and laud outstanding performers across a spectrum of industries, encompassing finance, technology, energy, healthcare, and more. Through this platform, excellence, innovation, and exemplary leadership are brought to the forefront.
Visit our awards hereMEA Markets is excited to announce that we are set to host the UAE Business Awards for an eighth consecutive year! The 2024 programme will look to recognise the top performing companies across the various key sectors that make up the UAE’s diverse and evolving industry market.
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