UAE to allow 100% FOREIGN ownership

Foreigners opening a company in the United Arab Emirates will no longer need an Emirati shareholder or agent under changes to UAE company law that will go into effect on June 1, state news agency WAM reported on Wednesday.

The amended Commercial Companies Law aims at boosting the country's competitive edge and is a part of UAE government efforts to facilitate doing business,’ Minister of Economy Abdulla bin Toug Al Marri was quoted as saying.