Q: Can a shareholder invest in his company registered in DMCC Free Zone a cryptocurrency? Does he need any permission?

Q: We are expecting to receive an investment of around 1M from a person as part of our board meeting. The person's name is not mentioned in our trade license, he will transfer the amount to the company bank account, from his personal account. So can you please advise me, in the future will the recipient bank ask for any documents/correspondences or do we need to make any legal agreement with him as per the UAE norms? This document is only for banking purposes.

Q: Dear Lawyers, I have a software company in a free zone. My clients pay me in crypto, and I convert it to fiat for my company expenses. Do I need a VASP or VARA license?

Q: Hello, Hope this message finds you well! I am seeking legal advice regarding my financial situation as a forex trader living in the UAE under a sponsor work visa. Currently, I do not work for any company and earn my income primarily through cryptocurrency trading. However, I would like to ensure that I can legally receive and withdraw approximately AED 15,000 per month into my UAE bank account without raising any suspicion from the bank. My main concerns are: I am a forex trader and earn money through cryptocurrency, which I then exchange into fiat currency (AED). How can I ensure that the process of depositing this income into my bank account is transparent and compliant with UAE laws to avoid any issues with anti-money laundering (AML) regulations? Since I do not have a formal job or salary, how should I go about documenting or explaining my income to the bank to avoid any red flags regarding the source of my funds? Are there any specific steps I need to take to ensure my deposits are compliant?

The new law is applicable to all entities dealing with virtual assets that are set up on the mainland as well as free zones, including special development zones. However, it does not apply to the Dubai International Financial Center (DIFC), which will have its own set of rules and regulations governing all virtual assets entities registered with the DIFC.

Blackwater International, a leading private security and investigative company, has established a reputation for handling complex and high-stakes operations. One of the most challenging areas the company has ventured into is cryptocurrency asset recovery. This case study explores a recent successful recovery operation conducted by Blackwater International, highlighting their methodology, challenges faced, and the impact of their efforts.

The goal of conducting a covert asset inquiry is to discover and recognize assets such as real estate, funds, shares, etc. that have been hidden by one individual from another. Typical situations where conducting a covert asset investigation might be necessary include divorce. Many times spouses try to conceal assets to impact property division or the amounts given in monthly alimony or child support during divorce proceedings.

The provisions of this Federal Decree-Law No. (32) of 2021 on Commercial Companies governs commercial companies in the United Arab Emirates. The New Commercial Companies Code repeals the previous UAE Commercial Companies Code (Federal Law No. (2) of 2015 on Commercial Companies).

The law defines the crimes related to money laundering, commitments and the jurisdictions of the governmental authorities, and the sanctions against perpetrators of money laundering.

The provisions of this Federal Decree-Law No. 50/2022 Issuing the Commercial Transactions Law, known as the "New Commercial Code" governs commercial transactions in the United Arab Emirates. The New Commercial Code repeals the previous UAE Federal Law No. (18) of 1993 Issuing the Commercial Transactions Law.