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UAE Allows 100% Foreign Ownership: Cabinet Approves Direct Foreign Investment in 122 Economic Activities

July 02, 2019
The UAE Cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, has approved 122 economic activities across 13 sectors eligible for up to 100% foreign ownership in the UAE. The decision aims to support the growth of several industries in the country and to reaffirm the UAE’s position in the global arena as a welcoming hub for direct foreign investment. The approved activities eligible for up to 100% UAE foreign ownership fall under specific sectors which include renewable energy, space, agriculture, and the manufacturing industry. The decision provides foreign investors with an opportunity to acquire various shares in a number of economic activities including the production of solar panels, power transformers, green technology and hybrid power plants. Areas of foreign ownership also include transport and storage, which allows up to 100% foreign investment in the fields of e-commerce transport, supply chain, logistics, and cold storage for pharmaceutical products.
Other sectors and activities where 100% ownership through direct foreign investment will be permitted include hospitality and food services, information and communications, as well as professional, scientific and technical activities. This will thereby allow foreign ownership of research laboratories and developments in biotechnology. The list of approved activities also includes administrative services, support services, educational activities, healthcare, art & entertainment, and construction. Local governments will determine the ownership percentage of foreign investment in these activities. More details regarding the matter are expected to be published in the near future. For any queries or clarifications, please contact us. +971 4 580 8003 [email protected]
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  Last Updated: 2nd July 2019 This article is contributed by:  Sakina Dickenwala - Associate Director Business Advisory & Consultancy

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