Call for free consultation +971 501605046

Follow us on:   

We are BSB Legal Consultants.

A team of trusted and experienced lawyers

Legal News

BSB Legal a team of trusted and experienced lawyers in Dubai

Amongst the best law firms of UAE, BSB Legal Consultants is a solution-oriented full service law firm. We are innovative and are always committed towards maintaining long-term professional relations with our clients on the foundation of trust, high standards and reciprocity. We deliver immaculate legal services by adopting new models and techniques. We endeavour to redefine the role of legal professionals in any commercial market to achieve extraordinary results for our clients. At BSB Legal, we envision ourself to bring radical change in legal fraternity by appointing numero unos of legal field who bring innovative thinking to our law firm. The unique blend of talented and experienced legal professionals possessing in-depth knowledge of civil, criminal, corporate and family laws place us in a novel position to resolve our clients' legal and intricate issues. With the team of top lawyers in Dubai, we dedicate ourselves in providing bespoke legal advise and consultations in every field of law within UAE and internationally and we are serving our clients in civil, criminal, commercial, banking, corporate, mergers & acquisitions, family, arbitration and litigation. Get in touch with us today for immediate assistance and legal advice.

Our Expertise

Our legal professionals will simplify the complex process of restructuring your business. Our top lawyers would…

Being the best law firm in UAE we recognize that a good contract can save our clients from a plethora of…

Diverse Litigation Lawyers of UAE assisting clients in civil, commercial and criminal litigation matters before…

Patents, Copyrights and Trademarks registration or litigation for IP dispute under the guidance of efficient…

Divorce, Child Custody, Inheritance, Marriage, Guardianship and every aspect of personal law is covered by Family…

Construction lawyers of Dubai experienced in drafting multi-party construction contracts, representing…

Debt Collection attorneys of RAK acting on behalf of unsecured creditors and debtors in UAE for settling debt collection claims…

Best real-estate lawyers of RAK and Dubai are serving comprehensive needs of their clients from past couple of years…

Dedicated solely to resolve intricate criminal matter, top criminal lawyers of Dubai can represent in before…

Our Expertise

Our legal professionals will simplify the complex process of restructuring your business. Our top lawyers would…

Being the best law firm in UAE we recognize that a good contract can save our clients from a plethora of…

Diverse Litigation Lawyers of UAE assisting clients in civil, commercial and criminal litigation matters before…

Patents, Copyrights and Trademarks registration or litigation for IP dispute under the guidance of efficient…

Divorce, Child Custody, Inheritance, Marriage, Guardianship and every aspect of personal law is covered by Family…

Construction lawyers of Dubai experienced in drafting multi-party construction contracts, representing…

Debt Collection attorneys of RAK acting on behalf of unsecured creditors and debtors in UAE for settling debt collection claims…

Best real-estate lawyers of RAK and Dubai are serving comprehensive needs of their clients from past couple of years…

BlawG

Client Testimonials

Sanand Dhamija

It has been a pleasure working with BSB, especially with Mrs Smriti Ganotra. She was extremely helpful and went out of her way to get things done and solve any issues. Mr Ahmed was also extremely supportive, helpful and simplified things extremely well. They will be our Go To team for any opportunities in the UAE.

Agos Aviation Pvt. Ltd.

Osman Ali

Smriti and her team are AMAZING. Was going through an off plan property dispute that was not delivered on time. Smriti and her team done their magic and we won. Grateful to her and the team. Highly recommended. Worth every penny. Very professional and communication was excellent

Blue Motion Limited

Jaseel Moosa

Highly recommend for their reliable and professional guidance on Legal matters.

PetroServe International (PSI)

Dorine Smits

Highly professional and dedicated! Feels very safe to leave legal matters in their experienced and knowledgeable hands. I strongly recommend their good service!

VR Cleaning Services LLC

Happy to "HELP"

    Write to us
    info@bsb.legal

    Talk to Us
    +971 508014003

    Get Started
    Contact With Us

    FAQ

    Failure of businesses is a common phenomenon in UAE and winding up the business becomes a viable option to mitigate further losses. In UAE, the Federal Law No. (9) of 2016 (UAE Bankruptcy Law) governs the process of liquidation or bankruptcy within the country. Article 67 of the Law provides that if you are not able to pay the debts of your creditors, you can apply for bankruptcy. Though there is a provision to restructure the debt and revive the company, you can opt for bankruptcy wherein the liquidation would take place at a fair value. During the process, the assets of the companies will be sold out to cover the liabilities of the debtor.

    Alternatively, you can approach the court under Article 68 of the Law which provides that if the debtor fails to make the payment for more than 30 days from the due date on account of poor financial condition, he can apply to the court for commencement of bankruptcy proceedings. If the court approves your application, all the execution proceedings against your company shall be suspended a trustee shall be appointed to administer the proceedings. The trustee so appointed needs to prepare a report in accordance with Article 96 of UAE Bankruptcy Law.

    If you are a sole proprietor, you can file for individual insolvency as per the provisions of Federal Decree-Law No. (19) of 2019.

    The essence of the arbitration is the issuance of a binding arbitral award by the Tribunal. However, there are some grounds on which you can challenge an arbitral award in the country. Article 53(1) of Federal Law No. (06) of 2018 (UAE Arbitration Law) lists the grounds on which you can challenge the award, which is as follows-

    • When no valid arbitration agreement exists between the parties or the agreement has become void in accordance with the law chosen by the parties;
    • The parties to the arbitration agreement are not legally compatible to enter into such an agreement;
    • When an individual does not have the legal capacity to dispose of the disputed right under the law governing his or her capacity;
    • The award was not premised on the law chosen by the parties;
    • The appointment of the arbitrator or the constitution of the Tribunal was not in accordance with the UAE Arbitration law;
    • The award was affected by severe procedural irregularities;
    • The award was not issued within a specified time frame;
    • The Arbitrator rendered such an award which goes against the scope of the arbitration agreement.

    In addition to the aforesaid, Article 53(2) provides that the court can set aside an award when it is against the public policy of the country. It is very important to note that the award cannot be challenged on merits as per UAE Arbitration Law.

    Recently, in a ground-breaking move, the UAE government announced a corporate tax in the country from the financial year 2023. This new law applies to all businesses and commercial activities. Further, it applies to the individuals carrying out professional activities in the country. Thus, an important question arises about whether the freelancers would be subject to this new corporate tax?

    The corporate tax will be levied on a taxable income above AED 375,000 which means if your annual earning is less than the said amount, you are not required to pay the corporate tax. So, it can be inferred that if a freelancer is earning a taxable income (above AED 375,000) he will be subject to this new law and required to pay the tax. The rate of taxation shall be 9% on the amount exceeding the threshold of AED 375000.  

    However, if you are working on a job as a freelancer and earning employment income, you will be exempted from the payment of tax.

    Back to top