law firms in difc
آخر تحديث: 17 November، 2022
المقال السابق: Best criminal lawyer in Dubai, UAE
As a global financial center strategically located between East and West, the Dubai International Financial Center (DIFC) provides stable and secure access to emerging markets across the Middle East, Africa, and Asia.
Due to the Center’s internationally recognized and independent regulations, common law framework, tax-friendly system, and enabling environment, the Centre is ideally suited to meet the rapidly growing needs of the region’s businesses and financial systems.
Hong Kong and Tokyo are the leading financial centers in the east, while London and New York are in the west. The DIFC bridges this time zone gap. A pivotal role in meeting the financial needs of the region continues to be played by the Center, guided by the core values of integrity, transparency, and efficiency. Our company Al Baloushi is one of the best law firms in difc.
Law firms in difc
Al Baloushi Company has played a leading role in Dubai’s exponential growth as a leading international business hub. Being the top law firms in difc with a focus on delivering excellent legal advice and support to our clients operating in key industry sectors across MENA, we are not only the leading law firm in the region but also the largest firm in Dubai.
We offer a comprehensive range of legal services to clients operating in Dubai. We also have expert Arbitration and Litigation teams to help onshore and offshore. Besides their extensive expertise, our team has full audience rights in all courts.
Our extensive experience in the region allows us to provide you with a thorough understanding of the laws that you must follow when conducting business in Dubai.
In order to achieve your business goals and run your business successfully, we build strong relationships with government departments and regulators.
In addition to setting up and operating funds, financial institutions, and companies within the DIFC, our DIFC lawyers and dedicated team will help you with everything DIFC-related.
We also provide regulatory compliance advice, assistance, and support in obtaining DFSA approval, managing operations at Nasdaq Dubai, and all other regulatory matters.
Our team has offered advice and representation to clients facing DFSA investigations and enforcement actions.
All those elements have gained us a better rank than the other law firms in DIFC.
A legal and regulatory framework that is unique to the DIFC is designed to support economic development, growth, and success in the UAE and the region as a whole. DIFC Courts also deal with most civil and commercial cases within the DIFC in addition to their international jurisdiction.
While DFSA investigations are underway, our team is responsible for advising parties and negotiating settlements on their behalf.
We have advised on the majority of DFSA investigations with positive results since we were the first authorized firm fined by the DFSA.
Small Claims Tribunal (SCT)
There are three types of claims that can be managed by Small Claims Tribunals (SCTs), which were established in 2007. In the first instance, when the claim doesn’t exceed AED 500,000.
If there are more than 500,000 AED in the claim, and all parties to the claim elect in writing that the SCT hears the claim and the claim relates to employment or former employment of a party.
As far as employment claims are concerned, the SCT’s elective jurisdiction is unrestricted. The third option is to elect that all parties, in the case of claims unrelated to employment, agree in writing that they will be heard by the SCT, either in the underlying contract (if applicable) or later.
Court of First Instance (CFI)
In disputes over Dhs100,000, the court hears the case, and a single Judge hears the proceedings. As a result of the amendment to the governing law in October 2011, the CFI has exclusive jurisdiction over any civil or commercial case relating to the DIFC.
When the contract specifies the DIFC Courts’ jurisdiction (pre-dispute jurisdiction) or both parties elect to use DIFC Courts to resolve a dispute that already exists (post-dispute jurisdiction), DIFC Courts can also hear cases. Jurisdictions that allow opt-in are commonly referred to as ‘opt-in.’
Court of Appeal (CA)
Provides legal advice on a variety of civil and commercial disputes. A Chief Justice and three other judges make up the court. Exclusive jurisdiction belongs to the CA in the following areas:
1)A CFI judgment or award is appealed.
2)A DIFC establishment may request the Chief Justice’s permission to interpret any article of the DIFC’s laws if the establishment obtains permission to do so. Interpretations of this kind shall have legal force.
3) DIFC Courts’ highest court, the Court of Appeal, shall never hear an appeal from a ruling made by this court.
Technology & Construction Division (TCD)
A new set of industry-specific rules and the expertise of specialist judges enable the Technology and Construction Division (TCD) to fast-track dispute resolution, giving businesses greater certainty. Cases that are technically complex will only be heard by the Division.
Fire claims or complicated engineering disputes are examples of disputes in the construction sector. It may be possible to bring suit about a technology-related incident such as a cybercrime incident, a dispute over data ownership and use, or an issue relating to emerging technology such as artificial intelligence or connected vehicles.
Digital Economy Division
To handle sophisticated national and international disputes involving current and emerging technology, the DIFC Courts established the Digital Economy Court in 2021.
These disputes include big data, blockchain, AI, fintech, and cloud services, as well as disputes involving uncrewed aerial vehicles, 3D printing, and robotics.
Digital technology has become an essential part of the fundamental operations of trade and services as a result of the continued growth of digital transformation around the world.
It is more important today than ever for business owners and entrepreneurs to have an innovative judicial system in place to promote growth and ensure that their companies and businesses are protected, secure, and reliable.
With the rapid increase in arbitration-related cases over the last few years, the Arbitration Division was established in 2020.
The DIFC Courts leverage existing enforcement expertise within its specialized Arbitration Division, ensuring certainty of recognition and enforcement through their extensive national, regional, and global connectivity.
A working group was established in 2020 at the DIFC Courts to help strengthen the Arbitration Division. The DIFC Courts are the first court in this region to initiate such a group.
This panel comprises arbitration professionals, bodies, centers, education institutions, and industry-related organizations, whose role is to reinforce and share developments and best practices.
Our team at Al Baloushi company has an extensive experience with the law of DIFC courts and is a prominent figure in the law firms in DIFC.
difc Court rules
Apart from their international jurisdiction, the DIFC Courts have jurisdiction over most civil and commercial matters that occur within the DIFC and also have jurisdiction over all the law firms in difc. DIFC Courts will, therefore, have exclusive jurisdiction over Dubai Courts when they have jurisdiction over DIFC Courts.
In accordance with Dubai Law No. 12(2), parties may agree to submit to the jurisdiction of any other court. The Centre’s Laws and Regulations are subject to objections if they arise in relation to decisions made by its bodies.
As far as criminal matters are concerned, the DIFC Courts do not have jurisdiction and must refer everything to the Dubai Public Prosecution and hear it in the Dubai Courts. Furthermore, family and marital disputes are not subject to DIFC Courts’ jurisdiction.
Dubai Financial Services Authority (DFSA) and DIFC Authority (DIFCA) develop the DIFC laws and regulations. In addition to employment law, companies and commercial law, and real estate law, DIFCA is responsible for regulating non-financial activities in the DIFC. All financial and ancillary services within the DIFC are held by the DFSA.
When the parties agree that another law governs their dispute, the DIFC Courts apply DIFC laws and regulations.
Any proceeding before the DIFC Courts may be directed or ordered by the Courts as it deems appropriate, including:
– Laws under DIFC law prescribing orders;
– Actions that require an action to be taken, including injunctions:
- Orders that are interim or interlocutory
- The circumstances under which such orders are appropriate without notice to other parties
- Orders of contempt
- Justice-related orders or Dubai’s Attorney General may be consulted on matters.
Within the DIFC, the DIFC Courts are empowered to enforce judgments, orders, or awards they make or ratify. Judges of the DIFC First Instance Court will be appointed to serve as Executive Judges with authority to issue Execution Orders.
difc arbitration law
In order to comply with international best practices, all modern arbitration laws are based on the 1985 UNCITRAL Model Law on International Commercial Arbitration (the “UNCITRAL Model Law”).
Arbitrations that take place at the Dubai International Financial Center are governed by the International Financial Center Arbitration Law; however, certain sections apply even when awards issued elsewhere are enforceable.
Dubai International Financial Center Courts and Dubai Courts, which implement each other’s arbitration decisions, have a memorandum of understanding under which arbitration decisions can be enforced.
Because of this, the DIFC has become a channel for enforcing these laws without requiring all documents to be translated into Arabic by a certified legal translator, as do the Dubai Courts.
Arbitration practitioners will easily recognize the format of the DIFC Arbitration Law. The arbitrator’s nationality isn’t restricted unless the parties agree on it, and the parties have the right to decide on the award’s validity.
The DIFC Courts can provide support when needed, and the parties have the right to choose the arbitrator independently. The DIFC Court of First Instance will appoint the arbitrator if the parties cannot agree on the number of arbitrators. Otherwise, the arbitrator will be appointed by the parties.
If the parties agree or if DIFC Law applies to the dispute, the arbitration shall be conducted at the Dubai International Financial Center, and the Court may order that measures be taken.
Since the Model Law, the New York Convention (signed by the United Arab Emirates in 2006), and the Federal Arbitration Law of the United Arab Emirates reflect temporary rules, implementing the arbitral award may pose a challenge.
Under contracts incorporating the DIFC Arbitration Rules and the London Center for International Arbitration, the DIFC Arbitration Center and the London Center for International Arbitration administer commercial arbitration claims.
Arbitration practitioners will also understand these rules because they are written in a language they are familiar with.
The arbitrator (s) are appointed by the arbitration center, and unless the parties agree on the number of arbitrators, the sole arbitrator will be selected by default on their behalf. When there are different nationalities between the parties, the sole arbitrator or presiding arbitrator cannot be of the same nationality as one of those parties unless they agree together in writing.
When all parties agree, expedited arbitration, emergency arbitration, and joining other arbitrations are also provided. Payment of the Center and arbitrator fees will be required in advance by the DIFC Arbitration Center and the London International Arbitration Center.
In accordance with the “English Rule,” arbitral tribunals can order parties to pay each other’s legal representation costs when each party has done well or poorly in the arbitration.
You can make a visit to our office and discuss your needs with our lawyers at Al Baloushi company. Whether you decide to carry your case with law firms in difc or outside of it, it’s up to you.
We have provided you with a brief detailed description of the DIFC area and what kind of law firms in difc has to offer you; additionally, we mention the legal framework of the whole DIFC area and their arbitration.
We hope that this type of information is helpful, and if you have any questions, you can contact us at the Al Baloushi law firm to get you the legal aid that you require.