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Hello Greater levels of foreign investment into the UAE are expected after the country abolished a requirement for onshore companies to have a local shareholder. The UAE has recently confirmed changes to its commercial company ownership laws, It means foreigners of any nationality can now own 100 percent of their business in the country and is the latest move to boost the economy’s competitive edge and make the country more expat-friendly. The previous rule that onshore companies had to have a major UAE shareholder has been described by one investor as the "number one issue" for foreign companies. 100 percent ownership of businesses is now permitted for foreign nationals signals great news for the UAE economy – and of course overseas investors looking to do business in the Emirates. This will further cement the UAE’s reputation for its pro-business culture and conducive infrastructure for foreign investment. Recently, Dubai launched a virtual visa scheme, which allows remote working professionals from all over the world to relocate to Dubai with their families with access to all services in the emirate, including schooling, telecom and services. In September, the emirate launched Retire in Dubai, the first of its kind in the region, a retirement programme for resident expatriates and foreigners over the age of 55. Dubai has also recently launched the Virtual Company Licence, which allows global
businesses to access a regulated e-commerce platform populated by Dubai-based
companies, while also exploring new markets and investment opportunities
digitally. The initiative, which allows investors worldwide to do business in Dubai digitally without having to live in the emirate, is expected to attract more than 100,000 companies.
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