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100% foreign ownership of firms in UAE begins from June 1

100% foreign ownership of firms in UAE begins from June 1 9 hours ago Inayat-ur-Rahman, Deputy Business Editor The UAE Ministry of Economy has made a very important announcement on Wednesday stating that the new Commercial Company Law with regards to 100 per cent Foreign Ownership will be effective from June 1, 2021. The new law will enable companies to apply for business licence without the requirement of UAE National as the partner of the company. Abdulla  Bin Touq  Al  Marri, Minister of Economy, said, “The amended Commercial Companies Law aims at boosting the country’s competitive edge and is a part of UAE government efforts to facilitate doing business.”

UAE to allow non-nationals 100% ownership of companies starting from June

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.

New law allowing full foreign ownership of onshore companies takes effect on June 1

New law allowing full foreign ownership of onshore companies takes effect on June 1
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