The UAE cabinet decided to allow 100% foreign ownership of onshore companies in UAE
The new UAE investment, residency and company reforms announced on Sunday signify a tectonic shift for the business and social ecosystems, as the country seeks to become a haven for big-ticket investors, outstanding students and top-skilled professionals. The positive impact of the changes would be felt across all sectors, officials and industry experts have said.
Sultan bin Saeed Al Mansouri, Minister of Economy, said the long-awaited decision to allow 100 per cent foreign ownership to onshore companies would bolster the UAE’s image on the global investment map.
Major-General Mohammed Ahmed Al Marri, Director-General of the General Directorate of Residency and Foreigners Affairs – Dubai, said the reforms would help investors overcome obstacles they face. “The resolution reflects the government’s role in providing an environment that encourages global investment.”
Most economists expect an annual surge of up to 15-20 per cent in FDI flow once the investor-friendly reforms come into effect.