UAE to allow non-nationals 100% ownership of companies starting from June
By
Wednesday May 19, 2021
Containers are seen at Abu Dhabi s Khalifa Port after it was expanded in Abu Dhabi, UAE, December 11, 2019. Reuters/File
Prerequisite of having an Emirati shareholder for a foreigner to open a company will be lifted on June 1.
It is one of several steps aimed at attracting investment and foreigners into the Gulf state.
The UAE announced the law allowing 100% foreign ownership of companies last year.
DUBAI: The prerequisite of having an Emirati shareholder for a foreigner to open a company in the United Arab Emirates will be lifted on June 1, state news agency WAM reported on Wednesday.
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