A new law has just been launched for foreign nationals. Previously, every foreign national business owner was never the 100% owner of their business, they needed an Emirati co-owner. But this new law allows foreign nationals to be the complete owner of their business or company. This will make a lot easier for everyone to establish their businesses and companies in the UAE.
🚨 UAE business news: Commercial company ownership laws have been overhauled – removing the need for an Emirati shareholder for onshore companies
This will make it far easier & cheaper to do business in the UAE – another move to attract foreign investment in the wake of #Covid19
— Ashleigh Stewart (@Ash_Stewart_) November 23, 2020
“This is significant because it’s the first time businesses will be allowed to be 100% foreign owned, without the need for an Emirati partner. The UAE is really trying to position itself as a global hub for doing business” via Ashleigh Stewart’s twitter.
This news was first released by The National along with other news on topics relating to divorce, alcohol, inheritance and women’s rights, laws were passed on these subjects as well. This is a huge step by the UAE government to make the country more welcoming and open to foreigners.