UAE's company law won't allow 100% foreign ownership, says official

23 March 2010

An Abu Dhabi government official said today that the UAE's new companies law will ease foreign ownership restrictions but will fall short of allowing 100% ownership, Reuters has reported. 'The new companies law in the UAE will make a relaxation in foreign ownership. It will not be up to 100%, it will be more than 49%,' Mohammed Omar Abdulla, undersecretary of Abu Dhabi's department of economic development, was quoted as saying. The new law is expected to come out in 2010.

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