UAE to allow 100% foreign ownership from June 1

Agencies | Abu Dhabi

The Daily Tribune – www.newsofbahrain.com

The UAE Ministry of Economy announced that the amended Commercial Companies Law will come into effect on June 1st, 2021, allowing foreign investors and entrepreneurs to establish and fully own onshore companies.

The UAE government has recently adopted an amendment to the Commercial Companies Law allowing 100 per cent foreign ownership of companies.

"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.", said Abdulla bin Touq Al Marri, Minister of Economy, said.

Bin Touq added that the amendments introduced by the new Commercial Companies Law will boost the UAE’s appeal as an attractive destination for both foreign investors, entrepreneurs and talents.