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Branches of foreign companies do not require an Emirati agent UAE approves 100% foreign
ownership of companies Image Credit: Supplied
Dubai: It’s no longer mandatory to have an Emirati partner or specify a fixed quota ratio for him/her.
The latest guidelines issued by Dubai Economy also state there are no additional fees, guarantees or capital requirement for full foreign ownership.
It further explained that a reduction of the percentage share of the Emirati partner from 51 per cent or his /her withdrawal from the partnership is “possible according to the legal procedures followed”.
However, the status of existing business licenses that include an Emirati partner remains unchanged. This is as per the Memorandum of Association (MOA) and the partners’ decision.