Property in Dubai
UAE may not permit 100percent foreign ownership
The new Companies Law, likely to be introduced this year in the UAE, will relax foreign ownership restrictions, but will not permit 100percent ownership, an official said.
Undersecretary of Abu Dhabi Department of Economic Development, Mohammed Omar Abdulla, made the remarks during a panel discussion.
The new companies’ regulation in the UAE will make a relaxation in foreign ownership, but it will not be up to 100 percent, although it will be a little more than 49 percent, said Abdulla.
Posted on 25/3/2010