Date added: : 27.11.2020

The government of the United Arab Emirates has allowed foreign businessmen to register and fully own the companies operating on the country’s territory. The corresponding order was published on the official website of the President of the UAE Khalifa bin Zayed bin Sultan Al Nahyan. The foreign entrepreneurs will be able to fully own organizations on the UAE’s territory, previously it was only possible in special hubs. The legislative changes will come into force on December 1, 2020.

However, only the investors who have invested in certain types of business will be able to own companies. In particular, 100% ownership is not allowed for the legal entities operating in the energy, oil and gas industry, telecom industry, as well as in the transport sector. For these organizations, the old requirements remain – the foreigners can own only 49% of such legal entities, at least 51% should belong to the local resident.

The changes are aimed at attracting additional investment in the economy of the United Arab Emirates. For the same purpose, the President of the UAE abolished the quotas for seats for UAE citizens in the board of directors.

Law & Trust offers its services for the clients who are planning to open a company in the United Arab Emirates. Our experts will advise you on the innovations, as well as help to register your business in the UAE.