Updates on the UAE’s long awaited FDI Law have just been released and we’re pleased to advise you on the pertinent points below and through the briefing from our partners at law firm Clyde & Co.
The headline news is that certain sectors are being opened up for foreign ownership beyond the present 49% limit for overseas shareholders; similarly, those sectors where there is no permitted change in ownership structure are also delineated for the first time.
What is not yet certain is how this will be implemented nor what degree of majority foreign ownership will be permitted in each sector. As such, we recommend a wait & see approach as all of these crucial factors become more clear in the coming months.
We will continue to issue updates as confirmed details emerge.
*The BCB’s incubator model provides for 100% foreign ownership in Dubai through a Foreign Branch model and is ostensibly unchanged by these developments for local companies. Click here if you wish to find out more.
Regards
Joe