UAE Allows Full Foreign Ownership of Firms to Boost Economy
- Changes to law aim to attract foreign entrepreneurs amid slump
- Earlier federal rules capped foreign ownership in firms at 49%
Photographer: Christopher Pike/Bloomberg
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The United Arab Emirates abolished the need for companies to have Emirati shareholders, local media reported, in a major shake-up of foreign ownership laws aimed at attracting investment into an economy reeling from the coronavirus and a decline in oil prices.