UAE allows 100 percentage ownership foreign Investors

The United Arab Emirates will soon allow foreigners to fully own their business in Dubai or Abudhabi without a local partner .The new rule is to stop other Gulf countries on its lead in attracting foreign investment. UAE also announced 10-year residency permits for professional from foreign countries. This decision is a clear indication that UAE is seriously diverging their revenue model without depending on the revenues from oil. At present, the business houses in free zone areas like the Dubai International Financial Centre are the only few places where expats can hold 49% shares along with a local partner. Dubai, with its eight-lane highways, sea-side skyscrapers, giant malls is one of the most preferred cities among expatriates.