100 % ownership on UAE Mainland
The UAE government has come up with a landmark decision with respect to the ownership of companies on mainland. Till date, if partnership with a local UAE sponsor is what stopped you from setting your business on UAE mainland, then you do not have to bother about it anymore.
The new rule promises complete ownership across 122 activities that comes under 13 sectors. Transport & storage, agriculture, manufacturing, space, renewable energy, healthcare, construction, art & entertainment, professional, scientific & technical, education, administrative, hospitality & food and information & communication are the sectors that will come under the new policy. Activities include the production of solar panels, power transformers, green technology, and hybrid power plant, e-commerce transport, supply chain, logistics, and cold storage for pharmaceutical products.
As per His Highness Shaikh Mohammad Bin Rashid Al Maktoum, “Local governments will identify the percentage of ownership in each activity according to their circumstances. Our goal is to stimulate, activate and facilitate businesses. We want to open and expand new economic sectors. We want to attract new investors and new talents and enhance the global competitiveness of our national economy”.
However, sectors such as oil and gas, banking, utilities, road and air transport, telecoms and medical retail won’t be considered for 100 % ownership.
The policy is a confidence-booster to foreign investors, as they are provided with complete ownership of their businesses and need not seek partnership with UAE citizens anymore. Expats do not have to limit their businesses within free zones; the new move is an opportunity for them to explore and grow!