13 Business Sectors in UAE now qualified for 100% Foreign Ownership
The Foreign Direct Investment Law (Federal Law no. 19 of 2018) (“the FDI Law”) issued a year ago outlined a framework wherein foreign shareholders could possess up to 100% of shares in the companies in UAE in certain economic sectors. Therefore, it mentioned a negative list including the sectors and also the activities that are not available to Foreign in the FDI Law. Despite, the Positive List was at this point to be announced.
It made the much anxiously expected announcement a few weeks ago by the authorities. The UAE Cabinet has accepted the Positive List, which incorporated the economic sectors as well as the activities that are completely or somewhat accessible to Foreign Investors in the UAE.
Recently, UAE has taken a decision to open more areas for economic activities for foreign nationals to own 100% businesses. However, it specifies a total number of 122 economic activities across 13 sectors.
The 13 sectors include:
- Renewable energy
- Manufacturing industry
- Hospitality as well as food services
- Information and communications
- Professional, scientific and also technical activities
- Administration services
- Support services
- Educational activities
- Art and entertainment
Local Government in every emirate will decide the ownership level of foreign investors in these activities as well as appropriately issue more rules.
This choice means to help the development condition and also to reaffirm UAE’s position in the worldwide field as a center for investment.
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