"Foreign investors hoping that the new UAE Companies Law would allow them to own more than 50 per cent of non-freezone companies will be very disappointed by the new law that was finally passed yesterday by the Federal National Council after 10 years of deliberation.
Perhaps not so surprisingly the FNC has voted to protect the existing interests of UAE citizens rather than expand the rights of foreigners to own UAE companies. It was always open to debate whether the gain to the former would compensate for the loss of control through wider foreign ownership, and nobody can deny that a long debate took place."
'via Blog this'
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