Commenting on the resolution His Highness Sheikh Mohammed Bin Zayed said,
'The legal industry is both a support to, and a conduit for, global commerce. In realising the vision of His Highness Sheikh Khalifa, President of the United Arab Emirates and Ruler of Abu Dhabi, it is imperative that Abu Dhabi has the very finest legal consultancy sector. As Abu Dhabi continues to accelerate as a financial, investment and commerce centre, with a rapidly expanding business community, it is vital that the legal sector respond and reflect that expansion.'
Central to the new legislation is a simplified licensing procedure. The new system will see international legal firms able to apply for a license directly from the Executive Council. Legal consultancy firms established outside of the UAE will be able to set-up branches in Abu Dhabi provided they satisfy certain simplified conditions:
1. Have been in operation elsewhere in the World for not less than fifteen years;
2. Be an organisation with not less than fifty partners
3. Present an approved plan for the taking on and training of new National law graduates
4. Have obtained the approval of the Executive Council
5. Be registered with the Department of Economy and Planning
The new system replaces a current licensing system that is complex, long and involves international legal consultancy firms partnering with local sponsors. This has been a barrier to entry for many foreign firms that are subject to strict legislation relating to trade practices in foreign countries. By removing this barrier the new legislation will allow high quality international legal consultancy organisations to readily enter the Abu Dhabi market.
International legal consultancy firms that already have a presence in Abu Dhabi will be allowed to renew their existing licenses through the new system, as and when their existing licenses expire and require renewal.
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Posted by Janeta Novakovic, Assistant News Editor


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