0
 

UAE: Reforms allow foreign control of onshore businesses


Issue 1115 - 26 Nov 2020

The UAE is to allow foreign nationals to retain full ownership of onshore companies, in the latest of a series of reforms aimed at propping up the economy. A presidential decree announced on 23 November amended 51 articles of the Commercial Companies Law (Federal Law No. 2 of 2015). Most eye-catching was the removal of a requirement for firms to have a majority Emirati shareholder; some strategic sectors including oil and gas exploration, transport and utilities are exempt.

Want to read more?

Small article

£4

(Access to one 100-400 word article)

Subscribe to Gulf States Newsletter

View subscription options

Don't have an account?

Register for access to our free content

An account also allows you to view selected free articles and set up news alerts.

Register

Contact us

Jon Marks
Editorial director

Dominic Dudley
Editor

Harry Randle Marsh
Subscriptions and sales

Tel: +44 (0)1424 721667