UAE
UAE to allow 100% foreign ownership of companies
The amended Commercial Companies Law, allowing foreign investors and entrepreneurs to establish and fully own onshore companies, will come into effect on June 1 this year, the UAE’s Ministry of Economy has announced.
The changes to the commercial company ownership laws, which were first announced in November last year, remove the requirement for onshore companies to have a major UAE shareholder.
They also abolished a provision mandating that a UAE national or UAE-owned company was required as an agent and that a company’s board needed to be made up of a majority of UAE nationals and chaired by an Emirati.
