Weekly Spotlight: Ownership of Emirati Companies by Foreign Entities in the Mainland to Be Allowed
This week the spotlight is once again on the UAE where the Cabinet has announced two key investment rule changes. Under the changes, ownership of Emirati companies by foreign entities in the mainland will be allowed. Previously this was only allowed in the free zones. The change will come into effect in the third quarter of this year. The Cabinet also approved a new long-term visa system aimed at attracting international investors and high-skilled professional workers. Investors, scientists, doctors, engineers, entrepreneurs and innovators will be able to apply for a 10-year visa.
We have been delighted to include analysis of this important legislative and regulatory development from BSA Ahmad Bin Hezeem & Associates LLP and K&L Gates LLP, and their insights can be viewed under the Commentary section of our website.