100% Foreign Ownership

Date:
23/06/2021
Time:
12:30 - 13:30
Fee:
Free to Attend
Venue:
Webinar
event

100% Foreign Ownership

The UAE Commercial Companies Law (the “CCL”) has been amended to permit 100% foreign ownership of companies incorporated in the UAE under the CCL, commonly known as “onshore” companies. Essentially, the requirement that a minimum of 51% of the shares in an Onshore Company be held by one or more UAE nationals, being natural or legal persons, has been removed from Article 10 of the CCL. 

However, the Department of Economic Development (“DED”) of each Emirate will specify business activities open to 100% foreign ownership which may may result in different foreign ownership regimes applying to companies operating in the same sector, depending on which one of the Emirates an entity is incorporated in. 

We sit down with Carl Dowling, Partner with CBD Corporate Services and the Australian Business Group Abu Dhabi to discuss how this change will impact business in the UAE.

 

  • How will the new system operate 'on the ground'?
  • What does it mean for existing businesses?
  • Will it be different across Emirates?
  • What impacts are there on timelines for new business set ups?

Carl and the team at CBD Corporate Services have facilitated the entry of over 250 companies in the Gulf region, ranging from local start-ups to listed multinational companies. Carl is an industry expert with a proven track record and in depth knowledge of the region and has built strong relations within a number of local Government Departments including the Dubai Chamber, the Dubai Economy and the Ministry of Finance.  

We look forward to your company next Wedensday!

 
 

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