Tuesday 25 May 2021
The UAE Ministry of Economy has announced that the amended Commercial Companies Law will come into effect on 1 June 2021, allowing foreign investors and entrepreneurs to establish and fully own onshore companies.
The UAE government recently adopted an amendment to the Commercial Companies Law allowing 100% foreign ownership of companies.
The amended law aims to boost the country’s competitive edge and is a part of the UAE government's efforts to facilitate doing business. It is also expected to increase the UAE’s appeal as an attractive destination for foreign investors, entrepreneurs, and talent. It will strengthen the country’s position as an international economic center and encourage the flow of investments to the country’s vital economic sectors.