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Company Formation - Dubai, United Arab Emirates
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3 June' 2021
Dubai issues guidelines for full foreign ownership of companies
United Arab Emirates
Dubai's Department of Economic Development on Thursday issued guidelines on the procedures for the UAE law allowing full foreign ownership of commercial entities in the emirate.
Under the guidelines published by Dubai Economy on its website, 100 per cent foreign ownership is available for more than 1,000 commercial and industrial activities, excluding economic activities in seven strategic sectors, the department said.
The status of existing business licences, in which full ownership of the activities is available and include an Emirati partner, remains unchanged as per the Memorandum of Association (MoA) of the company and the partners’ decision.
“A reduction of the percentage share of the Emirati partner from 51 per cent or [their] withdrawal from the partnership is possible according to the legal procedures followed,” Dubai Economy said.
NEW LAW
United Arab Emirates
Seven emirates, one destination - Visit the United Arab Emirates and discover a land rich in history and tradition. Take a tour to the desert and explore the wild side of Arabia. Then, relax your mind, body and soul at the exclusive resorts. Find your paradise in the UAE.
How to become a Resident in the UAE?
Foreigners can live as residents in the UAE if they are:
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employed by a company in the UAE - in this case, the company will apply and sponsor your residence visa while you are in the UAE.
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employed by the government sector - in this case, the government entity will apply and sponsor your visa while you are in the UAE.
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are investors in a business in the UAE - in this case, the investor himself will process and apply for his own visa under the sponsorship of his company’s registered name.
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buy a property in the UAE - in this case, the property owner’s residence visa will be sponsored under the property he owns.
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dependents that are sponsored by:
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someone who is employed in the UAE
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an investor/business owner in the UAE
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a property owner in the UAE.
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Dependents include children, parents, maids on close relatives.
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university students sponsored by their universities in the UAE - in this case, the university will apply and sponsor your visa under the educational institution’s name.
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retired residents – in this case, special conditions apply.
Cities & Regions
Abu Dhabi
The largest emirate in the UAE borders the Empty Quarter desert wherein lies the world's tallest sand dune, Tel Moreeb. The Abu Dhabi emirate is a must-visit place for those who admire the deserts, oases, wildlife, islands, virgin coastlines and modern cityscapes.
Abu Dhabi city is where the magnificent Sheikh Zayed Grand Mosque and the opulent Emirates Palace (Hotel) stand. You can visit the city for Yas WaterWorld and Ferrari World as well.
Abu Dhabi has developed many new districts which offer great entertainment and recreational value. Saadiyat Island is an excellent tourist destination with a cultural emphasis. It houses several museums including Sheikh Zayed National Museum, Louvre Abu Dhabi and Guggenheim Abu Dhabi.
Dubai
Landmarks in Dubai include both historic and modern structures. Some of which are Dubai Museum, Hatta Heritage Village, Burj Khalifa - the tallest tower, The Dubai Mall - the largest mall and Palm Jumeirah - the largest man-made island.
Complete your Dubai experience with: a visit to the historic Al Fahidi district (Al Bastakiya) comprising Al Fahidi Fort, which houses Dubai Museum, an abra ride across the creek and a bargain deal in the traditional souqs.
Sharjah
Sharjah stands out for its architectural and cultural wealth. Its touristic sites include historical areas like Heart of Sharjah and modern sites like Al Qasba and Al Majaz waterfront.
Sharjah's cultural wealth has been aptly recognised regionally and internationally. In 1998, it was named 'The Cultural Capital of the Arab World' by the United Nations Educational, Scientific and Cultural Organization (UNESCO) and in 2014, it was named 'The Capital of Islamic Culture for 2014' by Organisation of Islamic Countries. In 2015, it was named 'The Capital of Arab Tourism'.
Ajman
Ajman is blessed with a natural harbour on the Arabian Gulf. It is situated along a central creek with a beautiful 16 kilometre long stretch of white sandy beach. Although fishing and dhow-building are still important aspects of life, it has undergone significant developments, especially in the area named as 'New Ajman' along the Emirates Road. Ajman is famous for its stunning beaches, Masfout mountains, nature reserves and parks, Masfout Castle, Red Fort and the 18th century Ajman Fort which was converted into Ajman Museum. The museum houses an interesting collection of archaeological artefacts, manuscripts, old weapons and reconstructions of traditional life. Shoppers can find designer brands at the City Centre Mall or could bargain for more traditional ware at the souk.
Umm Al Quwain
Umm Al Quwain is the most ancient emirate in the country. Archeological traces show strong evidences of the emirate's relations with Mesopotamia that existed during the 3rd millennium B.C. The tiny emirate of Umm Al Quwain is about 20 minutes' drive north of Ajman.
Umm Al Quwain has beautiful beaches. Windsurfing, waterskiing and sailing can all be enjoyed at Umm Al Quwain Marine Club on Sheikh Ahmed bin Rashid Al Moalla Rd. The Club also has a popular horse-riding centre.
Ras Al Khaimah
Ras Al Khaimah has excellent hotels, great beaches, golf courses and spas. Some of the top hotels include Al Hamra Fort Hotel and Beach Resort (with a golf course within the complex), the Waldorf Astoria, Cove Rotana Resort, Banyan Tree Al Wadi. Ras Al Khaimah's beaches and hotels offer a variety of activities while the desert and mountains are ideal for safaris and nature trails. You can also try falconry, horse riding, camel riding or wadi adventures.
Fujairah
Fujairah's historical importance goes back to 3000 B.C. when the area was inhabited by herders and fishermen. It was then named as the Land of Titans or 'Ard Al Jababerah'. It is unofficially called 'the Jewel of the Middle East'. Wadi Al Wurayah waterfalls and Ain Al Madhab Gardens are major touristic attractions in Fujairah. Wadi Wurrayah, a 31,000-acre nature reserve, lies between Khor Fakkan and Bidiyah. The site is the UAE's only waterfall. Other sites include the UAE's oldest mosque Al Bidya Mosque and the Heritage Village.
Fujairah has many beaches and beach-side resorts including the five-star Le Méridien Al Aqah and Fujairah Rotana. It does not have a desert; it is mostly mountainous, covered by Al Hajar Mountains which separates the emirate from the rest of the country. Fujairah is cooler than the rest of the UAE. It is popular for water sports like swimming, sailing, jet skiing, fishing.