In December 2020, the UAE government introduced key amendments to the UAE Commercial Companies Law, notably:
- Removing the requirement for foreign branches to appoint a local UAE national service agent (NSA); and
- Removing the requirement for 51% of the shares in a limited liability company (LLC) to be held by a UAE national.
The changes to the foreign branch NSA requirements took effect on the 31st of March while those related to LLCs were officially ‘implemented’ on the 1st of June 2021.
In our third episode, Legal Manager, Hermione Harrison and Director and Partner at Re/think, David Linklater discuss strategic considerations for assessing the suitability of full foreign ownership for businesses in the UAE.
See our publication: Increased foreign ownership in mainland entities – Preparing for the transition
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