Sunday was a landmark moment for UAE’s trade landscape.

In a series of announcements on Twitter, HH Sheikh Mohammed bin Rashid Al Maktoum Vice President of the UAE and Ruler of Dubai announced the UAE will allow 100% foreign ownership of UAE companies by the end of the year.

Dubai’s leader also announced changes to the visa system, making it possible for some to obtain ten year visas…

100% foreign ownership for companies, 10 year residency for investors, 10 year visas for specialists (doctors and engineers and others and their families as well as outstanding students)

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​All changes should be in place before the end of the year

At today’s Cabinet meeting, we decided to allow 100% foreign ownership of companies in UAE, with a 10 year visa for investors,scientists, doctors, engineers, entrepreneurs and innovators.
The UAE has always welcomed, and always will, innovators and business leaders pic.twitter.com/N93MqK89Rp

— HH Sheikh Mohammed (@HHShkMohd) May 20, 2018

“The UAE will remain the land of opportunity”

بيئتنا المنفتحة، وقيمنا المتسامحة، وبنيتنا التحتية، وتشريعاتنا المرنة تشكل افضل خطة لاستقطاب الاستثمارات العالمية والمواهب الاستثنائية ، وستبقى دولة الإمارات هي أرض الفرص، وهي أفضل بيئة لتحقيق أحلام البشر، وإطلاق إمكانياتهم الاستثنائية pic.twitter.com/dbPgM4uyC5

— HH Sheikh Mohammed (@HHShkMohd) May 20, 2018

This decision will be enforced by third quarter this year .
Our open society, tolerant values, excellent infrastructure and flexible legislation offer the best environment for international investment and exceptional talent. pic.twitter.com/kdOVX02q4L

— HH Sheikh Mohammed (@HHShkMohd) May 20, 2018

The announcements were made on Twitter