The UAE wants the world’s money — but only if it is clean | Arab News:
While the UAE wants the world to put its cash into the country, it is becoming increasingly choosy where that money comes from.
That is the lesson from two pieces of legislation introduced in the Emirates in the past week. Both have been some time in the making, which should ensure they can be implemented quickly and effectively, and both are vital if the UAE is to retain its position as the financial hub of the Middle East.
The first is a comprehensive UAE investment law, which will recognize a new class of incorporation — the “licensed foreign investment company.” The most important part of the new law is that these entities will “be granted the same treatment as national companies,” a vital stipulation if foreign cash is to be truly welcomed into the UAE.
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