In an exciting development, the UAE Cabinet has approved certain sectors of the economy that will now be open to increased levels of foreign ownership. This step follows the introduction of the Foreign Direct Investment Law in late 2018.
Reports indicate that 122 different business activities have been identified as being 'open' to increased levels of foreign ownership.
We are eagerly awaiting the Cabinet Resolution which we expect will contain more details on the changes, what they mean for the UAE economy and how they may benefit our clients.
The Clyde & Co FDI team will be publishing further updates shortly.
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