Thursday 26 November 2020 - 6:45:07 pm
2020 Nov 23 Mon, 08:10:56 pm

UAE allows full foreign ownership of commercial companies

ABU DHABI, 23rd November, 2020 (WAM) -- President His Highness Sheikh Khalifa bin Zayed Al Nahyan has issued a decree overhauling foreign ownership rules of commercial companies, as part of the government’s ongoing efforts to ensure a conducive legislative environment and open up economy to all nationalities. The decree, which introduces significant amendments to the UAE Federal Law No. 2 of 2015 on Commercial Companies, annuls the requirement for commercial companies to have a major Emirati shareholder or agent, providing full foreign ownership of onshore...