The United Arab Emirates (UAE) recently made a major change to the Federal Commercial Companies Act, granting foreign investors full ownership of certain businesses. This means that foreign investors can now own up to 100% of a business in Dubai. The Dubai Department of Economic Development does not require that a business license be issued under a foreign name with 100% ownership in Dubai without designating a citizen of the UAE for your company. The Amendment Decree introduced changes in corporate governance frameworks, foreign investment and ownership requirements, prohibitions on financial assistance, membership and acquisition of boards of directors, capital increase, and listing rules for limited liability companies and public limited companies.
This has opened up incredible opportunities for entrepreneurs to establish businesses in Dubai and gain full ownership. Any foreign citizen can open a company in mainland Dubai with 100% foreign ownership of the company. Companies that have already established businesses in the UAE with mandatory local participation may wish to reconsider those agreements in light of these developments if they want full legal ownership.
PRO Partner Group (PPG)can help companies establish a new LLC or an overseas branch in the UAE and can inform them if their business meets the requirements to allow 100% ownership.
If a foreign citizen wishes to provide services or consulting, a local citizen of the UAE will be the agent of the company, not the shareholder of 51% of the company. Avyanco is a team of business creation professionals that specializes in providing business formation services for potential investors. They can help you understand the process and requirements for setting up a business in Dubai with full foreign ownership. They can also provide advice on how to structure your business to maximize your chances of success.
The UAE has made it easier than ever for foreign investors to own businesses in Dubai. With the right guidance and support, you can take advantage of this opportunity and establish your own business with full legal ownership.