The UAE government has recently announced that foreigners can now own 100% of the companies they establish in the country, without requiring a local partner or sponsor. This is a significant change in the law, as previously, foreigners were only allowed to own up to 49% of their companies, while the remaining 51% had to be owned by a UAE national.
This new rule applies to all companies incorporated in the UAE, including those operating in free zones and mainland areas. This means that you now have the opportunity to have full ownership and control of your business, which was not possible before.
Furthermore, the UAE government has also introduced a number of amendments to its commercial law, which will enhance the ease of doing business in the country. These changes include simplifying the procedures for setting up a business, improving the transparency of corporate governance, and streamlining the process of bankruptcy proceedings.
These changes in the commercial law are part of the UAE’s ongoing efforts to attract foreign investment and stimulate economic growth. As an expat, you can take advantage of these new opportunities and establish your own business in the UAE, with the assurance of full ownership and control.