Federal Laws
The UAE has a vast range of statutes and regulations. The prime goal is to combat financial crimes in UAE. It also extends its support towards asset recovery.
We will be discussing the prime foundation for asset recovery here:
Federal Law deals with Criminal Liability
Federal Law No. 3 of the 1987 penal code deals with criminal liability. It handles cases like fraud, and embezzlement. Federal law No. 5 of 1985 civil transaction facilitates the compensations suffered resulting from loss or damage. Federal Law No. 11 of the 1992 Civil Procedure Code administers the enforcement and execution of judgments. There are more Federal Laws to deal with financial crimes due to severity. Federal law no. 20 of 2018 on Anti-Money Laundering and Countering the Financing of Terrorism (AML-CFT) specifically deals with financial crimes in the UAE.
Criminal Complaints For Assets Recovery
All the federal decree laws mentioned above support individuals and enterprises. It helps them to initiate civil litigation or lawsuits against financial crimes. Criminal complaints can be launched to ensure asset recovery in the UAE. A professional lawyer in Dubai becomes paramount for effective recovery paths. They can assist clients in navigating through complex matters. Besides, it also assists in strategizing the future way to asset recovery.
Civil Procedures for Asset Recovery
Civil lawsuits and civil litigation in the UAE permit the victims of financial crimes to seek justice. The law supports the fraud victims and breach of contract to get restitution and compensation. Furthermore, plaintiffs can easily initiate civil proceedings in UAE local courts. Civil Proceedings can also commence from financial-free zone courts including DIFC or ADGM. However, it depends on the contractual terms and location of the dispute. The UAE courts also allow for interim relief measures. It also includes the provisional attachment of assets. The petitioner should demonstrate a prime facie case. This is necessary for relief. This will prevent the risk that the asset may be dissipated.
Legal Guidance
The well-trained lawyers in Dubai take on the routine file of such motions on behalf of clients. They are often in touch with law enforcement and other relevant authorities. They coordinate to ensure that rapid action is being taken.
Professional law firms in Dubai have competent lawyers, legal consultants, and attorneys.
They are pivotal in coordinating and communicating with the local courts, concerned departments, and enforcement agencies. It helps in figuring out and freezing the assets that are questionable.
Criminal Asset Recovery in Dubai
If the criminal route is opted for asset recovery in the UAE, it is initiated with a complaint. The complaint is launched with the police, law enforcement agencies, or public prosecution. The UAE penal Code categorically criminalizes financial crimes such as fraud, embezzlement, theft, breach of trust, and other offenses.
Local Courts
Local courts will carry out the court proceedings by identifying the accuser. Once the accused is guilty, the judgment will include the restitution of misappropriated assets to the victim. Mostly, the criminal complaints are effective and thus, the intention remains clear. Lawyers in Dubai are instrumental in guiding the clients. They provide invaluable services to their clients regarding the preparation of evidence.
They help in filing the complaint until the final judgment is released. Legal representation during the public prosecution requires a lawyer who will present the legal case in a fashionable manner. Additionally, criminal judgment can be used to initiate civil claims for losses and damages in the UAE. This will increase the chances of asset recovery in the UAE.
International Cooperation in Asset Recovery in UAE
UAE is a prominent signatory to different international treaties. UAE is part of treaties like The United Nations Convention against Corruption (UNCAC), Mutual legal Assistance Treaties (MLATs), Financial Action Task Force FATF, and Interpol with numerous nations.
This supports the UAE assets recovery outside the UAE. It enhances the nation’s ability to get back the huge capital that is hidden, transferred, or sent outside the UAE. It may have happened through various international banking channels.
Role of Law Firms
The well-equipped lawyers, Legal professionals, and attorneys in Dubai are capable of coordinating with the international legal teams. This helps in initiating legal action abroad in conjunction with local proceedings.
In case when foreign judgments are involved, the lawyers in Dubai will be involved in making judgments recognized and enforced in local courts. They work with international entities and authorities to build a solid case. There are few countries having collaboration with Dubai or UAE, so lawyers will not have to put brain storming a lot. However, the countries who have no collaboration with UAE government, lawyers have to work a lot in such cases.
Moreover, they are also engaged in pre-litigation work that significantly affects the assets recovery. These efforts also enhance the likelihood of successful recovery of assets.
Well-equipped Lawyers invest their time, efforts, and energy to the cause. They will vigilantly assist the clients in court procedures and deal with multiple jurisdictions.
They gather the proofs, and evidence, and prepare the documents needed to prove the lies of the claimant. This is backed by sturdy documentation and testimonial evidence.
Arabic is the native language of the UAE. A well-trained lawyer in Dubai ensures all the paperwork is submitted in Arabic. Therefore, they facilitate the translation and break the language hurdles.
