AMENDMENTS TO THE FEDERAL AGENCY LAW APPROVED BY UAE CABINET

January 29, 2020

 

 

  

THE AGENCY LAW

 

Federal Law No. 18 of 1981 (Agency Law) regulating the contractual aspects of Agency, Franchise, and Distribution Agreements in UAE.

 

 

STATUS OF AMENDMENT

 

Draft Law Approved by UAE Cabinet

 

 

AMENDMENT MAY AFFECT

 

•    The Business Sector
•    Public Shareholding Companies 
•    UAE Nationals 
•    Foreign Investors

 

 

WHAT WE CAN EXPECT FROM THE AMENDMENT

 

•    Family Owned Companies may be able to turn to Public Stock Companies.
•    Business and Investment Conditions in UAE to be par International Standards.
•    Attracting Investments and boosting UAE Economy.
•    Ensuring continuity of Family Businesses and their growth in future.
•   Opportunities for Investment in Public Shareholding Companies by UAE Nationals with       minimum risk.
•   Regulations to protect interest of owners and shareholders in case of termination or           non-renewal of agreements without proper reasons.


The Amendment seems to promise greater opportunities for Family Business Owners to grow and contribute towards their future as well as the Economy of UAE.

 

 

For more information and inquiries kindly contact us:

 

 

info@allegianceinternational.com
www.allegianceinternational.com
+971 - 4 - 3695542

 

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