UAE GOVERNMENT UPDATES
THE MINISTRY OF ECONOMY LAUNCHES:
THE PROMINENT FEATURES & INCENTIVES TO INVESTORS The Prominent FeaturesGRANTED and Incentives Granted to Investors on the ON THE FEDERAL DECREE LAW NO. (26) OF 2020 REGARDING THE NEW Federal Decree Law No. (26) of 2020 regarding the New Amendments of AMENDMENTS OFLaw FEDERAL LAW (2) on OF Commercial 2015 ON COMMERCIAL COMPANIES Federal No. (2) of NO. 2015 Companies
Full Ownership of all Economic Sectors with Exception of Strategic Impact Activities Allowing companies and investors of various nationalities the possibility of full ownership in all economic sectors, including industry, agriculture, services and others, with the exception of some sectors which are of a strategic impact.
Full Ownership of all Legal Forms of Companies Granting ownership in all the legal forms mentioned in the Commercial Companies Law, which are (Joint Liability Companies, Simple Commandite Companies, Limited Liability Companies, Public Joint Stock Companies, Private Joint Stock Companies).
Possibility of Ownership in Sectors with a Strategic Impact under Certain Legislations Granting companies and investors of various nationalities the possibility of owning and taking part in the management with the companies that are of a strategic impact, with the authorization of the competent authority to determine a certain percentage of Emiratization in the capital or as boards of directors of all companies that are of a strategic impact that are established within their jurisdiction. In addition, the Council of Ministers may, upon the request of the Ministry of Economy or the concerned authority, grant an exception to any company whose activities are regulated under special legislation from any conditions regarding the percentage of Emiratization ownership or their participation in the management of that company.
Practicing Banking and Insurance Businesses in all Legal Forms for Companies Granting investors the possibility of engaging in banking and insurance business for other than public joint-stock companies, only if permitted by the special laws or decisions issued regulating those activities.
No Obligations for a Limited Liability Company to be with the Name of its Owner The absence of the obligation of (the limited liability company - a single person company) to associated with the name of its owner.
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THE AMCHAM UPDATE Q1 - 2021
