The Foreign Direct Investment Law (Decree No 19 of 2018) established a framework enabling up to 100% foreign ownership of UAE businesses, outside of the designated freezones. Previously, foreign ownership was restricted to 49%, and ownership of at least 51% by a UAE national or company was mandatory.

The several possibilities put forward by this decree as well as other game-changing initiatives introduced by the Dubai Economy enabling up to 100% foreign ownership of UAE businesses is expected to bolster Dubai's position as a hub for business and a favorable habitat for investment.

How can we assist

BSA Ahmad Bin Hezeem & Associates LLP are at the forefront of helping international clients take advantage of these exciting new opportunities. We recently advised a number of clients on obtaining 100% full ownership of their existing businesses, including a leading regional FMCG company in utilizing the decree to obtain 100% foreign ownership of their operations. BSA led the client through the process, including liaising with relevant governmental departments and committees in order to obtain the required approvals.

Is your business a major player in the local or regional market? Do you have evidence of significant assets and investment activities in the UAE? If so, you may wish to explore the option of applying for a freehold license through Dubai Economy allowing up to 100% ownership in the UAE.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.