Dubai: A new law has come into force in the UAE where foreigners can start a business with 100% ownership. On the first Tuesday itself, many foreigners started a business with 100 per cent ownership. Business setup companies experience huge congestion
UAE President Sheikh Khalifa bin Zayed Al Nahyan approved the new investment law in 2020. The policy of starting a business without the participation of a native citizen is the biggest legal change in the history of UAE investment
With this, the requirement that 51 per cent stake in business ventures outside the free sector should be in the name of the native has been removed. Government departments have released an extensive list of areas in which 100 per cent ownership can be obtained.There are also opportunities to make changes in the ownership of existing ventures.
The new law will attract a large number of investors from different countries to the UAE in the post-covid financial world .