The Meaning of Judicial Expertise
The Judicial Expertise is one of the methods which the judge can follow whenever there is a need for technical evidence. In case the judge does not have sufficient and enough knowledge in the subject of the dispute, he can appoint an expert so that the expert will provide technical opinion on the topic assigned to him by the judge.
The expert must be regulated by the concerned authority. The expert can be an accountant, banker, engineer, doctor, IT specialist, etc. The parties of the dispute can also agree on nominating a particular expert who must be a specialist in the field of the dispute. If the nominated expert is not regulated, the judge must ask him to swear the Oath before the court.
In most of the countries in the Middle East, the expert must be regulated by the authority. Since the last century, the state of United Arab Emirates was one of the first countries in the region that has paid great importance to the subject of judicial expertise and has enacted laws and legislation for it, and we’ve had the last of those laws was Federal law No. 7 of 2012 concerning the regulation of the profession of judicial expertise
Adjustment period extended for the UAE based Companies to comply with Law No (2) of 2015 on Commercial Companies
Law No (2) of 2015 on commercial companies shall replace the Law no (8) of 2008 of 1984, and no doubt that the new law accommodates changes and Imperatives that arise from time to time. The new law accommodates emerging needs of the practice and application of laws.
Companies paly important role in boost the economy, activating capitals and create new job opportunities. In furtherance of this concept, Emirati Legislator stated in Article (2) of the Federal Law no (2) of 2015 concerning Commercial Companies that the new law aims to (contribute to the development of the working environment and capacities of the State and its economic position in regulating companies according to the various international norms related to governance rules and the protection of shareholders and supporting foreign investment and promoting the Corporate social responsibility of companies).
The new law contains numbers of chapters and sections, and includes many new legal articles in the daily work of commercial companies and to ensure that the necessary legal protection for the shareholders, founders and management which help in achieving progress in the UAE economy. The new law mentioned the concept of corporate governance in article (1) (A set of criteria, standards and procedures that achieve corporate Governance at the management level of the company in accordance with the international standards and practices, by determining the duties and responsibilities of the Directors and the executive management of the company, taking into account the protection of shareholders and stakeholders rights). And as step consistent with the application of the new law, the government called on the companies to adjust their legal position to comply with rules of the new law stated in Article no (374)
1- Existing companies that the provisions of this Law apply thereto shall adjust their positions according to the provisions of this Law within no later than one year from the effective date of this Law. Such term may be extended for another similar term under a Decision by the Cabinet on a proposal made by the Minister.
2- Subject to the penalties as provided by this Law, if a company fails to comply with the provision of Clause 1 of this Article, the company shall be deemed as dissolved in accordance with the provisions of this Law). And as a practical step to the context of article (374) (2) the government has took the decision to extend adjustment position period which started on 1st of July 2015 to 30 of Jun 2016 a year starts from 1st of July 2016 to 30th of Jun 2017, for the companies to comply with law no (2) of 2015 concerning commercial companies.
Failure to comply with Article (374) will result in a very serious consequences that lead company to be considered as dissolved in accordance with the provisions of the law no(2) of 2015.
Commercial License in Five Minutes
The Department of Economic Development (DED) in Dubai launched the Instant Licensing Services Businessmen can obtain a commercial license in just five minutes for the first year without holding a lease of the company or even location; these documents will only be required for renewal.
This Instant License is the newest service that has been launched by the Business Registration and Licencing (BRL) that is for all Dubai Economic Department (DED)-licensed activities and for all legal types. It is believed that this service will have the time for the process of registering a business or business setup in Dubai, and anywhere in the UAE, reduced by 90% because of the automating licensing procedures. Aside from public and private shareholding companies, almost every business activity will be able to take the advantage from this scheme. The businessmen can have their licenses be registered through the Dubai Economy’s outsourcing centers and the happiness and smart lounges. It is a requirement for at least a business partner to be present when applying for the license and present valid passport copies of all parties (partner and manager), residence visa copy, and non-objection letter from the sponsor.
Meanwhile, with regard to having activities that have to do with general trading, it is mandatory to apply through the E-Services and choosing LLC. This may only be available for almost every business since it’s not for public and private shareholding companies.
However, this is considered to be a huge step towards business environment development as Dubai Economy strives to be competitive as is expected in the UAE. As always, the UAE is one of the countries in the world that remains to be on the race to have world class and state-of-the-art infrastructure.
There are a lot of consultants that can be of help with regard to business setup in Dubai. One of them is Farhat & Co., which has been serving various companies from different industries for more than 30 years. The experience that we have in our sleeves serves as an edge for us and makes us one of the leading business setup consultants in Dubai and in the neighbouring Emirates.
We are repeatedly giving quality service better than before for we care about you and your business’ well-being. As we always strive for excellence because it is in one of our goals to stay in the list of one of the best business setup consultants in Dubai, we continually serve with excellence. If you are interested to have a consultation with us, please do so and find out for yourself why we are one of the prime consultants when it comes to business setup in Dubai, UAE.