UAE´s Positive List for 100% Foreign Ownership – Cabinet Resolution Finally Published in the Official Gazette
Last spring the UAE business and legal news were full of reports on the (draft) “positive list” as circulated by the authorities. This draft “positive list” provided for some sectors of the economy in which 100% foreign ownership could be permitted by the licensing authorities in each emirate. However, many were not aware that last year’s circulated positive list has never actually entered into force. Now, with all eyes of the public and the media on the Covid19 pandemic and the measures to fight it, many might have missed the fact that the positive list has only now entered into force as Cabinet Resolution No. 16 of 2020 after its very recent publication in the Official Gazette. Therefore, it is worth to provide a short recap of relevant information on the positive list. A set-up under the new Cabinet Resolution could be an option for foreign companies in certain areas of business to establish themselves in the market without local majority co-ownership.
The full text of the Cabinet Resolution in Arabic is attached to this article together with a courtesy translation into English.
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