The UAE has ushered in a new 100 % investment law which essentially allows up to 100 per cent ownership for investors from overseas. This will however, be applicable only to certain onshore business sectors. However, the move is expected to lend a major impetus to private and foreign direct investmnets, FDIs.
A full list of sectors that will be included under the ambit of the 100 per cent foreign ownership rule will be revealed during the first quarter of this year. The move is designed to act as a catalyst in increasing investments in industries that are not related to the rich oil sector. Moreover, the measure will also allow the creation of additional jobs for UAE nationals.
The increased foreign ownership would reportedly be provided in sectors that include but are not limited to outer space, technology, renewable energy and artificial energy. The UAE has recently introduced revolutionary reforms aimed at boosting the economy. among them the long-term visas for professionals and investors.