GET Stock QuotesNews18 APP
News18 English
»
1-min read

UAE to Allow 100 Percent Foreign Ownership of Businesses by Year-End

The decision is part of a wider change to the system that would grant residency visas of up to 10 years to investors and specialists in scientific, technical, medical and research fields, the agency said.

Reuters

Updated:May 21, 2018, 8:05 AM IST
facebookTwittergoogleskypewhatsapp
UAE to Allow 100 Percent Foreign Ownership of Businesses by Year-End
People watch the sunset in Dubai, United Arab Emirates December 21,2017. REUTERS/Ahmed Jadallah/Files
Loading...
Dubai: The United Arab Emirates cabinet approved steps on Sunday that would allow for 100 percent ownership of UAE-based businesses by foreign investors by year-end, the state news agency WAM said.

The decision is part of a wider change to the system that would grant residency visas of up to 10 years to investors and specialists in scientific, technical, medical and research fields, the agency said.

The cabinet meeting was chaired by Sheikh Mohammed bin Rashid Al Maktoum, vice president and prime minister of the UAE and ruler of Dubai. He directed the economy minister to implement the resolution and submit a study following up its impact in the third quarter of this year, WAM said.

At present, foreigners generally cannot own more than 49 percent of any UAE firm unless it is incorporated in a special "free zone".
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Reliance 1,101.30 -4.34
Indiabulls Hsg 653.80 -17.10
Dewan Housing 210.55 -10.75
Yes Bank 217.90 -6.04
Bajaj Finance 2,140.50 -0.47
Company Price Change %Gain
Sudarshan Chem 385.05 2.64
Indiabulls Hsg 654.25 -17.06
Reliance 1,101.65 -4.11
Dewan Housing 211.80 -10.37
Yes Bank 217.70 -6.06
Top Gainers
Company Price Change %Gain
HPCL 215.90 4.15
Sun Pharma 609.95 2.78
Kotak Mahindra 1,198.95 1.95
Bharti Infratel 264.45 1.71
Vedanta 211.10 1.51
Company Price Change %Gain
Sun Pharma 608.40 2.52
Kotak Mahindra 1,199.55 1.83
Vedanta 211.15 1.51
HUL 1,579.20 1.16
ITC 288.45 0.73
Top Losers
Company Price Change %Gain
Indiabulls Hsg 653.80 -17.10
HCL Tech 958.50 -6.42
Yes Bank 217.90 -6.04
HDFC 1,660.25 -4.46
Reliance 1,101.30 -4.34
Company Price Change %Gain
Yes Bank 217.70 -6.06
HDFC 1,661.30 -4.32
Reliance 1,101.65 -4.11
Hero Motocorp 2,711.00 -3.70
Infosys 682.60 -3.11

Live TV

Loading...
Loading...