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UAE announces new measures to open market

  • Categories:NEWS
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  • Time of issue:2020-11-30 09:24
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(Summary description)From next month, In UAE foreign investors can hold 100% shares in local enterprises! UAE announces new market opening measures

UAE announces new measures to open market

(Summary description)From next month, In UAE foreign investors can hold 100% shares in local enterprises!
UAE announces new market opening measures

  • Categories:NEWS
  • Author:
  • Origin:
  • Time of issue:2020-11-30 09:24
  • Views:
Information

      From next month, foreign investors can hold 100% shares in local enterprises!

      UAE announces new market opening measures

     On November 23 local time, UAE president signed the revised UAE business company law, which will remove the restrictions on foreign investors' shareholding ratio in locally registered companies from December 1, 2020.

    This is considered to be a major move to open up the UAE market and a positive for Chinese enterprises operating in the Middle East.

      Previously, according to the UAE business companies act, foreign investors who set up companies in the UAE have the right to hold no more than 49% of the shares in the UAE company, but enterprises in the free zone are not subject to this restriction.

      After the amendment of the UAE law, foreign investors will no longer need UAE citizens as guarantors and their shareholding ratio will not be restricted.

Dubai, the United Arab Emirates, is an important trade node between China and the Middle East and North Africa. There are more than 200000 Chinese there and operate a large number of Chinese funded companies. The further opening of the UAE will further benefit Chinese companies.

     The UAE's move will strengthen bilateral trade and investment activities between China and the UAE. Since FSTB began to produce thermostat in 1982, it has been focusing on the development of foreign market, and the Middle East is also a very important region. The further opening up of UAE will also bring some opportunities to FSTB. In the future, FSTB will increase the development of Dubai and its surrounding areas of UAE. Starting from this region, it will radiate around the Middle East and add a bright spot for business sales.

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