(12 December 2020)
The new decree, approved by the President, His Highness Sheikh Khalifa bin Zayed Al Nahyan, overhauls foreign ownership rules of commercial companies
The virtual media briefing organised by the Ministry of Economy about the Decree-Law No. 26 of 2020 that amended provisions of Federal Law No. 2 of 2015 on commercial companies was successfully held on Wednesday.
The new decree, approved by the President, His Highness Sheikh Khalifa bin Zayed Al Nahyan, overhauls foreign ownership rules of commercial companies. Under the new amendments, several categories of businesses can now be fully owned by non-Emiratis of all nationalities.
The media briefing was joined by by HE Abdullah bin Touq Al Marri, Minister of Economy; HE Dr. Ahmad Belhoul Al Falasi, Minister of State for Entrepreneurship and SMEs; HE Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade; HE Abdullah Bin Ahmed Al Saleh, Undersecretary of the Ministry of Economy; Dr. Obaid Saif Hamad Al Zaabi, CEO of Securities and Commodities Authority, and several media representatives.