UAE announces 100% foreign ownership of local companies
The United Arab Emirates cabinet recently announcement that non-Emirati’s shall now be entitled to one hundred percent of a local company.
This now means that there shall no longer be restrictions in place for foreign owners, in a move to promote talent and investment into the UAE economy.
In addition, non-Emirati’s are now also able to offer residency for up to ten years to any students which specialise within the medicine, science, research and technical fields.
The changes, which are due to come into full effect by the end of 2018, demonstrate how far the UAE is reliant upon foreign investment and the expatriate workforce.
This is because it is evident that the UAE cabinet is planning to put specific frameworks in place for the promotion of future developments, specifically surrounding science and technology as a means to grow the UAE economy.
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