Published on Al Bawaba (http://www.albawaba.com)

Official: New UAE companies law to be implemented soon

Published February 27th, 2006 - 15:45 GMT

The new UAE companies law, which is expected to stipulate 100% foreign ownership of companies, will be implemented in June this year, a government official has disclosed. Regulations have been drafted to account for 100%foreign ownership, stated Khalid Al Malik, CEO of Dubai Industrial City(DIC).

 

Although details of the law have not been published it is presumed that foreign ownership will be limited to certain zones/areas, such as the DIC.

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