{"id":284788,"date":"2020-11-23T19:31:56","date_gmt":"2020-11-23T22:31:56","guid":{"rendered":"https:\/\/anba.com.br\/?p=284788"},"modified":"2020-11-23T19:31:56","modified_gmt":"2020-11-23T22:31:56","slug":"uae-allows-100-foreign-owned-businesses","status":"publish","type":"post","link":"https:\/\/anba.com.br\/en\/uae-allows-100-foreign-owned-businesses\/","title":{"rendered":"UAE allows 100% foreign-owned businesses"},"content":{"rendered":"<p>S\u00e3o Paulo \u2013 The United Arab Emirates chose to allow foreign investors 100% ownership of businesses in the country. Effective December 1<sup>st<\/sup>, 2020, the new law will overrule a former requirement of sponsorship by or partnership with an Emirati citizen.<\/p>\n<p>President Khalifa Bin Zayed Al Nahyan made changes to Commercial Companies Law No. 2 of 2015 in a bid to improve competitiveness and investment attraction.<\/p>\n<p><a href=\"https:\/\/gulfnews.com\/business\/uae-allows-100-ownership-of-businesses-for-foreign-nationals-from-december-1-2020-1.1606134333609\" target=\"_blank\" rel=\"noopener noreferrer\"><em>Gulf News<\/em><\/a> reported that the 2015 law limited foreign ownership to a maximum of 49%, with the remaining 51% retained by an Emirati individual or 100% Emirati-owned company.<\/p>\n<p>That has changed with Cabinet Resolution <a href=\"\/Users\/tsousa\/Downloads\/UAE_law_allowing_100_foreign_ownership_now_in_force_1606159195.pdf\" target=\"_blank\" rel=\"noopener noreferrer\">No. 16 of 2020<\/a>.\u00a0A list has been made available of industries and activities eligible for 100% foreign ownership, including wheat, maize, barley, legume, sugarcane and flower farming. Manufacturing activities including foods, with the exception of bakery, dairy, and animal feed items.<\/p>\n<p>According to <em>Gulf News<\/em>, the new law does not apply to business excluded as per the Cabinet Resolution, or to those fully owned by federal or local governments or their subsidiaries.<\/p>\n<p><strong>Translated by Gabriel Pomerancblum<\/strong><\/p>\n<div class=\"credits-overlay\" data-target=\".wp-image-284786\">Karim Sahib\/AFP<\/div>\n","protected":false},"excerpt":{"rendered":"<p>As of December 1st, non-native investors will be able to singlehandedly own corporate entities in the Arab country without a local partner.<\/p>\n","protected":false},"author":2316,"featured_media":284786,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[114],"tags":[5721,9578,18123,37601,18122,9579],"class_list":{"0":"post-284788","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-news","8":"tag-company","9":"tag-foreign-ownership","10":"tag-foreign-owned","11":"tag-investimento-estrangeiro-direto-en","12":"tag-propriedade","13":"tag-uae-en"},"wps_subtitle":"As of December 1st, non-native investors will be able to singlehandedly own corporate entities in the Arab country without a local partner. ","_links":{"self":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/284788","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/users\/2316"}],"replies":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/comments?post=284788"}],"version-history":[{"count":0,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/posts\/284788\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media\/284786"}],"wp:attachment":[{"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/media?parent=284788"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/categories?post=284788"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/anba.com.br\/en\/wp-json\/wp\/v2\/tags?post=284788"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}