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UAE approves crowdfunding activity for public and private sectors

The UAE Cabinet has approved crowdfunding activity for both the public and private sectors to assist small and medium-sized enterprises access funds to grow their business and finance new innovative business ideas. In 2020, the Central Bank of UAE launched a new Regulation on “Loan Based Crowdfunding” which sought to establish an appropriate framework for

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UAE e-commerce market valued at over $5bn in 2021

According to a new report by EZDubai and Euromonitor International, e-commerce in the UAE reached just over $5 billion in 2021 and is expected to exceed $8 billion by 2025. As of 2021, the total market size of e-commerce in MENA was estimated at $31.7 billion. Over the course of 2021-2025, e-commerce is projected to grow

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Ras Al Khaimah-based real estate development and investment company Al Hamra to invest AED 1 Billion on development campaigns

Al Hamra has outlined an ambitious five-year (2023-2027) roadmap for driving sustained growth through strategic developments, in accordance with the vision of Ras Al Khaimah’s leadership to develop the Emirate into one of the world’s leading investments, business, residential, and tourism destinations. Recently, Al Hamra sold its 27,000 sqm Al Hamra Mall to Aldar Properties

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Dubai issues Virtual Asset Regulation Law

Dubai adopted its first Virtual Asset Regulation Law. The provisions of this law are applicable throughout the Emirate, including special development zones and free zones, except for the Dubai International Financial Centre. The new law seeks to protect investors and establish a framework of international standards for virtual asset (VA) industry governance to promote responsible

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Newsletter February 2022

Dear Friends and Clients, This newsletter was ready to be sent out on 23 February. Then came the 24th. With that, all usually reported topics sank into obscurity. Decades of peace and safety in most European countries suddenly came to an end. Today there is a war in Europe and the world has changed. We

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SLG advised on landmark sustainability project in the UAE

SLG advised Austrian entrepreneur Erich Erber and his SAN Group on this landmark sustainability project. As one of the first European companies SAN Group invests around AED 12 million into a sustainable aquaponic and renewable energy project in the UAE. The project perfectly fits into the UAE’s core strategic areas: food autonomy, sustainability and renewables.

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Newsletter January 2022

Dear Friends and Clients, First of all, may I wish you a happy, successful and healthy New Year on behalf of all our staff in the offices and, of course, on our own behalf. On 1 February the Chinese Year of the Tiger begins, the Tiger is known as the king of all beasts in

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New UAE cybercrime law comes into force

The new UAE Cybercrime Law (Federal Decree Law No. 5 of 2021) takes effect this January 2, 2022 bringing major amendments to Federal Law 5 of 2012. The new reforms aim to protect the rights of citizens and residents against cybercrimes. Here are some of the major penalties brought by the new law: Cryptocurrency Promoting,

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Newsletter December 2021

Dear Friends and Clients, Have you already decided to give up your residence in Europe? We have hardly ever experienced such a rush to residence changes. Perhaps the weather, the lockdowns and the Austrian tax reform are contributing to this. The Austrian tax reform is casting its shadow. The reduction of the corporate income tax,

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Happy Holidays!

Strohal Legal Group wishes everyone joy, prosperity and success during this holiday season. As we look back upon the past year, we would like to take this opportunity to thank our wonderful clients, friends and associates for making our jobs a pleasure and keeping our company successful. We look forward to working with you in

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