Today, 1 June 2021, marks a momentous day for the UAE as the amended Commercial Companies Law, which allows foreign investors and entrepreneurs full ownership of onshore companies, comes into effect. The amendments aim to boost the UAE’s appeal as a destination for foreign investment.
UAE now allows 100% foreign ownership of onshore companies
As part of its ongoing efforts to introduce and maintain over the top regulatory framework, by way of Circular No. 14/2021, the UAE Central Bank has issued a new Outsourcing Regulation with accompanying Standards to regulate UAE financial institutions’ outsourcing endeavors in order to match international best practices adopted in the banking sector.