BREAKING: New UAE Business Can Be 100% Foreign-Owned

In a major bid to entice foreign investment, the UAE government has announced amendments to commercial laws.

Companies will no longer need Emirati co-ownership and can be 100% foreign-owned, an act which would reduce costs for investors considering doing business here and make starting a business more accessible. The announcement came along with the further adjustments to commercial company law, according to The National. The key points include:

-Onshore companies no longer need a UAE shareholder

-Board of directors no longer need an Emirati majority

-Some exemptions include the most important sectors, including oil and gas, state-owned entities and transport

More info to follow…