Dubai: The UAE government has announced an important decision. The UAE government has announced that investors and entrepreneurs will be allowed to get the full ownership of companies. This new rule will be effective from June 1, 2021. Abdullah bin Touq, the Minister of Economy in UAE has announced the new decision.
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In November 2020, the UAE announced that the landmark reform allowing foreign investors 100 per cent ownership of businesses would take effect from December 1, 2020. However, after widening the scope of sectors eligible for full ownership by foreign investors, the law is now ready for roll out from June 1, 2021.
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