Introduction Following the issuance of Consultation Paper 3 of 2023 and the consultation process that followed, on 2 October 2023 the Abu Dhabi Global Market (ADGM) enacted the DLT Foundations Regulations 2023 (theRegulations), aimed at providing a regulatory framework for the creation and operation of specialised foundations for distributed ledger technology (DLT) and decentralised autonomous organisations (DAO)...
Afridi & Angell
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Afridi & Angell is a leading full-service business law firm in the United Arab Emirates (U.A.E.). The firm, one of the oldest in the U.A.E., was established in 1975, not long after the formation of the U.A.E. in 1971.
Our history and reputation for quality legal work has made the firm an integral part of the country's legal landscape and one of the premier law firms in the region. The quality and high standards of the firm are set and preserved by the partners who have many years of experience in the U.A.E. Our lawyers are trained in international jurisdictions and bring with them international experience and the world's business languages.
We advise local, regional and international clients on a wide range of transactions and legal issues. Our commitment to practical and solution-based advice is valued and recognised by clients.
Our clients are the core focus of our business strategy. Our holistic approach means we consider client matters as a whole with a view to obtaining the best result for the client and minimising potential future risks.
As one of the most established law firms in the U.A.E., our partners boast an unrivaled range and depth of local, regional and international experience. Their innate understanding of client needs coupled with their 'hands on' approach to client matters has undoubtedly formed the basis for the firm's sustained and growing international reputation.
We pride ourselves on being multi-specialists. This versatility makes our service consistent, effective and cost-efficient.
"Afridi & Angell provides 'consistently high service' and 'a creative and solution-oriented' approach, and caters to a mix of local and international clients."
Legal 500 EMEA 2013
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Developments in Corporate Tax Compliance
in the past week, guidance has been provided by both the Ministry of Finance and the Federal Tax Authority (FTA) regarding deadlines for Corporate Tax registration.The new deadlines have the potential to significantly reduce the time left for meeting the deadlines for Corporate Tax registration. For example, certain applicable taxable persons will be required to submit the Corporate Tax registration applications by 31 May 2024 in order to avoid a violation and the applicable penalties.Previous guidance from the FTA stated that taxable persons would have until the due date of their first tax return to register...
Press
Afridi & Angell announces New Partners
DUBAI – Monday 28 November 2022 – Afridi & Angell is pleased to announce that Saurbh Kothari, Mevan Bandara, and Abdus Samad have been admitted to the partnership, effective 1 November 2022. Saurbh’s practice focuses on corporate and commercial, regulatory and licensing, mergers and acquisitions, restructuring and employment matters. He advises local and international clients on various aspects of doing business in the UAE. Mevan is a litigator and advises and represents clients in arbitration, DIFC Court litigation and on-shore litigation matters...
Afridi & Angell Advises Thomas Cook India Group on AED149 Million Acquisition of 51% of Digiphoto Entertainment Imaging
Afridi & Angell recently advised Thomas Cook India Group (TCI), a leading global integrated travel services player, on a fast paced AED149 million (USD40.6 million) acquisition of 51 per cent stake in Digiphoto Entertainment Imaging (DEI), a UAE headquartered imaging solutions and service provider. Afridi & Angell acted as lead UAE counsel to TCI on the transaction, and advised on pre-transaction structuring and carve-out issues, the transaction documents (including a Share Purchase Agreement, Shareholders’ Agreement and other ancillary documents), anti-trust issues, as well as a restructuring of the DEI Group in the UAE in order to improve TCI’s post-acquisition control of the group...