UAE to allow ‘full foreign ownership’ of companies in June
The amended Commercial Companies Law aims at boosting the country's competitive edge
Reuters
May 19, 2021
PHOTO: REUTERS
Foreigners opening a company in the United Arab Emirates will no longer need an Emirati shareholder or agent under changes to UAE company law that will go into effect on June 1, state news agency WAM reported on Wednesday.
"The amended Commercial Companies Law aims at boosting the country's competitive edge and is a part of UAE government efforts to facilitate doing business," Minister of Economy Abdulla bin Touq Al Marri was quoted as saying.