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UAE to allow 100% foreign ownership of companies from June

News Team, 20/05/2021

Foreigners opening an onshore company in the United Arab Emirates (UAE) will no longer require an Emirati shareholder or agent under amendments to UAE company law set to come into force from 1 June 2021, the Emirates News Agency (WAM) reported.

"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 Minister of Economy Abdulla bin Touq Al Marri was quoted by WAM as saying.

The UAE had announced in December 2020 major changes to its Federal Commercial Companies Law No.2 of 2015, including an overhaul of its foreign ow...


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