UAE to List Sectors for Full Foreign Investment in Early 2019
News

    20-Dec-2018

  • UAE to List Sectors for Full Foreign Investment in Early 2019
  • Source : Source: Gulf Business
ABU DHABI - The new FDI law, approved last month, allows foreigners to own more than 49 percent and up to 100 percent in UAE-based businesses.

The UAE government early next year aims to publish a list of the sectors in which it will permit foreign ownership of up to 100 percent, the economy minister said.

Special business areas in Dubai known as “free zones” already permit 100 percent foreign ownership, but so-called “onshore” businesses limit foreign ownership to 49 percent.

A new foreign investment law, approved last month, allows foreigners to own more than 49 percent and up to 100 percent in UAE-based businesses.

The law is one of a series of economic reforms aimed at spurring investment and attracting foreign investors amid an economic slowdown in the Gulf, due to lower oil prices and a slump in real estate.

Source: Gulf Business
 
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