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Sharjah: A landmark legislation in the Commercial Companies Law, which allows 100 percent foreign ownership of onshore companies in the UAE, is in its final stages of formation, said Abdulla Al Saleh, Undersecretary of the Ministry of Economy for Foreign Trade and Industry. The legislation will enable investors and business in 10 new sectors of strategic importance to come under the purview of the law, and the list sectors and the regulations associated with their entry into the local market will be announced by the UAE Cabinet soon. Al Saleh added that the cancellation of the national service agent requirement came into force on April 1, also affirming that all current and previously licensed businesses in the UAE can amend their statuses according to the new amendments to the commercial companies law.

Ash shariqahUnited arab emiratesKhalid omar al midfaHussain al mahmoudiAbdulla al salehAhmad al marzoukiMohammad juma al musharrkhRamadan majlisNajla al midfaOsama amir fadlAl salehAbdul aziz shattafJassim al sarkalFahad al gergawiNational added value programmeSharjah exports development center