Younis Haji Al Khoori, is the undersecretary of MOF or Ministry of Finance of UAE. It is declared that the UAE cabinet’s adoption of tenancy policies enhances the importance of the legislative environment to enhance the financial business as well as developing and promoting it. The landscape initiative in UAE taken by MOF increases and promotes excellence in a suitable environment, It is also aimed to improve and enhance the government financial practices for businesses and business individuals in the city.
Tenancy Adoption Policy
The UAE federal Cabinet recently approved the new policy such as the Adoption of tenancy and its final procedures inside the UAE federal government(for all the emirates), defining and documenting the practices of new policies as well as terms and conditions of the tenancy.
The new rule or the policy makes sure that these guidelines have to be strictly followed, and implemented. Lawyers in Dubai, can be a useful source to understand such new policies and topics because they are quite popular and famous on the federal level in UAE. The rules are to be followed while leasing the properties and the relationship should not be spoiled between the parties. Real estate lawyers in Dubai (UAE Nationals), mostly have the licnese to provide services all over the UAE. Real estate attorneys in Dubai, can be an alterative name too.
New and Complete Process
The policy is new and better than before. It covers new challenges and modern requirements. MOF or The Ministry of Finance has recently checked and developed the new tenancy policies and rules very carefully, in the federal government. The objective is to establish a new dynamic, the latest, supportive, time-consuming and robust mechanism that supports completely, is best in practice, and is compatible with all the property management strategies.
New Process
This new process or step falls within its UAE federal jurisdiction and organises and develops new tenancy policies. It is about the procedures which are related to movable and immovable properties in the United Arab Emirates and belong to the federal government. It means it is all applicable to all the Emirate equally. Because the new laws are implemented on the federal level.
For Example, it is related to a federal law which is Federal Decree Law No. (35) of 2023. It necessitates the development and procedures related to real estate and it is all about the federal government.
Tenancy Policies
These new tenancy policies are designed to cater for the new standard process, and procedures across the federal government, for all the Emirates, serving as the primary standard for all the employees. It has to make sure that the new policy is implemented and there is no breach of rules related to law and the leasing premises. These policies aim to regulate the relationship. The relationship between landlord and tenant is improved here. It is made sure that tenancy operations are improved and better terms and conditions are executed at this time.
Types
The federal properties for tenancy matters are highlighted in policies defined by federal law, and it covers various dimensions and subjects, including types of properties, their categories and related provisions.
Ending Note
The article might be a little confusing about the new tenancy adoption law by MOF. It is recommended to hire real estate lawyers for good support. These real estate attorneys in Dubai, do have the relevant and specialised knowledge, therefore they are in a position where they can share a good amount of knowledge. There are several law firms in Dubai, Abu Dhabi, Ajman, RAK, and Fujairah, where the top lawyers can be easily hired. Once can search online or check in the friends circle too. Though it is not easy to believe any person who claims as lawyer UAE’s structure of law also permits a person to hire a good law firm and lawyers.
