Commercial and Corporate Law

The United Arab Emirates, through its distinguished position as a major center for global commercial activities, has been keen to develop commercial laws in line with international standards and keep pace with the rapid economic growth in the world.

With the economic development and the development of commercial life, and the increase in commercial transactions at the level of various countries world-wide in general and the United Arab Emirates in particular, the “Commercial Law” or known as the “Commercial Transactions and Corporate Law” came in order to regulate matters related to trade and business and apply it to business owners of all kinds, in addition to operations of conversion, manufacturing, banking and service activities. Commercial Law is one of the branches of private law that has been separated from Civil Law, as it is characterized by several traits, the most important of which are “speed, trust, credit, flexibility, development, customary character and international character.”

Commercial Transactions and Corporate Law is based on determining duties and rights of dealers in the scope of trade and business of purchasing and selling, and it is used in the context of transactions in which disputes arise between the seller and the purchaser, or transactions related to banks or insurance. This Law is applicable in the UAE within the scope of the commercial establishments that have been founded and have taken the State as their main headquarters for practicing their activities. It stipulates that every activity established therein takes it as its main domicile and is subject to all its laws. On the other hand, the provisions of this Law have not been applied to the activities of the free zones in the State, as they have their own regulations and rules.