Reed Smith Client Alerts

The UAE government’s recent announcement of a series of strategic measures in a bid to boost the region’s economy is highly welcomed. The measures concern allowing 100 percent foreign ownership of UAE businesses, a relaxation of visa requirements for visitors to and residents of the UAE, and the introduction of an AED 50 billion stimulus package in the Emirate of Abu Dhabi.

Authors: Tania S. De Swart Nicolle Odutoye

Type: Client Alerts

100 percent ownership of LLCs

The UAE’s cabinet has issued a resolution approving the implementation of legislation that will allow 100 percent foreign ownership of UAE onshore businesses by the end of 2018. However, while this will significantly liberalize the UAE market and boost foreign investment, it is likely that this new law will only apply to specific sectors handpicked by the UAE government.