From June 1st, foreign investors can own 100% of the company in the UAE.The Ministry of Economy of UAE announced that the revised "Commercial Company Law" allows foreign investors to own 100% of the company's ownership in UAE, and the law will be effective on June 1 this year.Al Marri, the Minister of Economy, said: “The new Commercial Company Law aims to improve the country’s competitive advantage. This is one of the efforts of the UAE government to promote economic development.”
The Minister also said that the new law will enhance the UAE’s ability to attract foreign investment and further strengthen the UAE’s position as an economic center. Before the new law, a foreign investor must have a guarantor to hold a share in the establishment of a company in Dubai.
Dubai has also recently introduced a virtual company license system. The plan enables global investors to conduct business online without having to live in Dubai, and is expected to attract more than 100,000 companies.