U.A.E. Cabinet Approves Foreign Ownership upto 100% in 122 Economic Activities

The UAE Cabinet, chaired by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, has approved the sectors and economic activities eligible for up to 100% foreign ownership in the UAE. The decision aims to support the growth environment and to reaffirm UAE’s position on the global arena as a hub for investment. The UAE Cabinet has approved 122 economic activities across 13 sectors which shall be eligible for up to 100 percent foreign ownership such as renewable energy, space, agriculture, and manufacturing Industry. The decision provides 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 investors to own projects in the field of e-commerce transport, supply chain, logistics, and cold storage for pharmaceutical products. Other sectors and activities where ownership by foreign investors will now be permitted also includes hospitality and food services, information and communications, as well as professional, scientific and technical activities, thereby allowing for ownership in laboratories for research and development in biotechnology. The list also includes administrative services, support services, educational activities, healthcare, art & entertainment, and construction. Local governments will determine the ownership percentage of foreign investors in these activities. More details regarding the aforesaid matter are expected to be published in the near future. For any queries or clarifications on this, please do not hesitate to contact us. Telephone: +971 4 580 8003 E-Mail: [email protected] Whatsapp: Send Message  Last Updated: 2^nd July 2019 This article is contributed by:  Sakina Dickenwala – Associate Director Business Advisory & Consultancy