You can call us or email us with any questions or inquiries. We would be happy to answer your questions and set up a meeting with you.
If you are an investor or entrepreneur who is planning to set up your business in Dubai mainland, you will have numerous doubts about the 100% ownership policy. According to a new amendment made to the Commercial Companies Law, expats can now enjoy 100% ownership of businesses in Dubai mainland. In this blog, we will explain in detail about this new amendment and the benefits which expats can enjoy.
Earlier only a few commercial and industrial activities were allowed to have 100% ownership by expats. The remaining activities were supposed to have a local sponsor with 51% ownership.
Listed below are the activities that require an Emirati partner:
1. Security and defense activities and military activities.
2. Services related to the fisheries field.
3. Banks, exchange houses, finance companies.
4. Print banknotes cash.
6. Hajj and Umrah services.
7. Centers for memorizing the Holy Quran
The revised amendment will be applicable to 1,061 economic activities out of the total 2,300 activities listed by the Department of Economic Development (DED). As a result, currently half of the business activities across sectors including trading and manufacturing can now enjoy 100% ownership of the business. However, for professional services activities, entrepreneurs still require a local service agent and must follow the sole establishment legal structure rather than an LLC.
This revision in the amendment will make the UAE economy inviting for businesses and investors as well as improve the ease of doing business in the country. If you wish to set up your business in Dubai mainland, Polestar Advisory Services can offer you expert company formation guidance making your journey easier like never before. Contact us at (+971) 585139299 or firstname.lastname@example.org to know more about our services.