The Department of Economic Development Dubai has revealed a list of registered commercial and industrial activities that are now open to partial or full foreign ownership in the emirate.
The Department’s decision on foreign ownership of commercial activities comes in line with the Federal Decree-Law No. (26) of 2020 amending the provisions of Federal Law No. (2) of 2015 on the Commercial Companies Law and its amendments by adding articles that permit the establishment of 100% foreign-owned companies in Dubai .
The move follows the UAE’s step to allow full foreign ownership of onshore companies from June 1.
The investors can now invest more with sheer contentment in the emirate. this indicates that the department is keen to continue improving the business environment and remove any impediments to investors in Dubai specifically and the UAE generally.
This Decision of broadening the investment opportunities in foreign ownership reflects the keenness of the Dubai government to attract further foreign direct investments and to promote an open and resilient competitive business environment.
The emirate is also planning to deepen partnerships between the private and public sectors to increase the former’s contribution to the emirate’s gross domestic product. (GDP)
These activities are applied to companies licensed following the federal and local laws regulating business licensing controls according to the type of activity.”
The department also said the existing companies can adjust their status provided they comply with the regulations.
This move indicates the keenness of the Dubai Government to attract further foreign direct investments and to promote an open and resilient competitive business environment. The Department also provides incentives and implements initiatives that help to increase the success rates of these enterprises and maintain their continuity in support of their sustainable growth and expansion.
Although People interested may refer to the decision and the list of activities via the Dubai Business Center website but we are attaching the list for your comfort as well.
