100% foreign ownership of UAE companies comes a step closer | ZAWYA MENA Edition:
A new foreign direct investment law, which will allow increased levels of foreign ownership of companies incorporated in the United Arab Emirates, was hailed as a ‘really positive development’ this week.
The new law follows an announcement earlier this year by Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Dubai ruler, in which it was pledged to allow applicants from certain sectors to apply for 10-year UAE visas and 100 per cent foreign ownership of UAE companies.
It also comes on the back of the news last week that the UAE has jumped 10 places in the World Bank’s Ease of Doing Business report, to number 11 globally.
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