UAE to include 10 new sectors in Commercial Companies Law
gulftoday.ae - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from gulftoday.ae Daily Mail and Mail on Sunday newspapers.
UAE to add 10 new sectors for 100% foreign ownership
khaleejtimes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from khaleejtimes.com Daily Mail and Mail on Sunday newspapers.
Sharjah: A landmark legislation in the Commercial Companies Law, which allows 100 percent foreign ownership of onshore companies in the UAE, is in its final stages of formation, said Abdulla Al Saleh, Undersecretary of the Ministry of Economy for Foreign Trade and Industry.
The legislation will enable investors and business in 10 new sectors of strategic importance to come under the purview of the law, and the list sectors and the regulations associated with their entry into the local market will be announced by the UAE Cabinet soon.
Al Saleh added that the cancellation of the national service agent requirement came into force on April 1, also affirming that all current and previously licensed businesses in the UAE can amend their statuses according to the new amendments to the commercial companies law.
Sharjah is a lucrative hub of global investments, partnerships
2 hours ago The Department of Government Relations in Sharjah is taking more initiatives to make the emirate a global investment hub. WAM Sheikh Fahim Bin Sultan Al Qasimi, Chairman of the Department of Government Relations in Sharjah, stated that the department has enhanced the stature of the UAE, in general, and Sharjah, in particular, as an economic centre based on knowledge, while attracting various global investments and partnerships aimed at employing technology and innovation and achieving sustainable development.
“On the directives of His Highness Dr Sheikh Sultan Bin Muhammad Al Qasimi, Supreme Council Member and Ruler of Sharjah, the emirate has implemented ambitious plans for several key sectors, which are the economy, trade, education, knowledge, culture and heritage, as part of a comprehensive programme that aims to make the emirate a global centre of these sectors. The de