UAE gives greenlights to foreigners to own 100 per cent of companies

UAE Wednesday amended country’s Commercial Companies Law as it allows investors and entrepreneurs to establish and fully own onshore companies, reports say.
“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,” Abdulla bin Touq Al Marri, Minister of Economy said.
The amendments introduced by the new Commercial Companies Law according to bin Touq Al Marri will boost the UAE’s appeal as an attractive destination for both foreign investors, entrepreneurs and talents.
The change the minister also stressed will further strengthen the country’s position as an international economic center and encourage the flow of investments to the country’s vital economic sectors.

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