Amendments to the Commercial Companies Law, 1984 (“CCL”) was signed by the Council of Ministers on 4th of December, 2011 (the “New CCL”). Although the new amendments have yet to be published in the UAE Official Gazette, they are expected to be put in force sometime in the first quarter of 2012.
If the New CCL is implemented, it is expected to make the UAE a preferred jurisdiction to establish business in the Middle East. Some of the features of the New CCL are as follows:
Read more “Amendments to the Commercial Companies Law”
Effective November 21, 2011, Iranian Nationals and persons residing in Iran may face restrictions in transferring funds to, or opening bank accounts with Canadian financial institutions.
Read more “Special Economic Sanctions against Iran”
Effective 5 March, 2012, Syrian Nationals and person residing in Syria may face restrictions in transferring fund to, or opening bank accounts with Canadian Financial institutions.
Read more “Special Economic Sanctions against Syria”