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100 percent foreign ownership in Abu Dhabi Mainland

HLB ABUDHABI Team

After various speculations on the Commercial Companies Law amendment, the UAE government has finally announced the effective date and the list of activities that will be included for 100 percent foreign ownership on UAE mainland. The capital of the country, Abu Dhabi, will be highly benefited from this initiative that has come into effect on June 1st.

The Abu Dhabi Department of Economic Development has released a list of more than 1000 activities that are open to foreign ownership. “This announcement reflects the keenness of the Abu Dhabi Government to attract further foreign direct investments and to promote an open and resilient competitive business environment,” said ADDED Chairman Mohamed Ali Al Shorafa. “The decision is one of many decisions and initiatives to provide incentives for the private sector in Abu Dhabi and to enhance the status of Abu Dhabi on the global investment map.”

The positive list includes a wide range of sectors such as Agriculture; manufacturing; transport and storage; hospitality and food services; information and communications; science and technology; healthcare; education; art and entertainment; and construction. For some activities, certain conditions will have to be fulfilled to avail the 100 percent ownership benefit.

“The amended Commercial Companies Law aims at boosting the country’s competitive edge and is a part of UAE government efforts to facilitate doing business,” said His Excellency Abdulla bin Touq Al Marri, Minister of Economy.

“We’re now at the point where these reforms are being actively rolled out and implemented. Its significance cannot be understated in the context of the country’s business and commercial landscape. It is exciting news for the business community, and it will no doubt be of interest to both existing mainland companies and to those thinking of starting a business in the UAE,” he added.

HLB Abu Dhabi will help you incorporate your company in Abu Dhabi; be it on the mainland or free zone. We have assisted numerous clients from different verticals to set up their businesses in Abu Dhabi.

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