Making money moves
For any foreign investors or entrepreneurs eyeing Dubai, this is big news: you’re now allowed to set up and fully own onshore companies, according to the UAE Ministry of Economy.
Up until now, businesses operating in the UAE had to have a local Emirati sponsor who owned 51% of the company, with the remaining 49% left to foreign investment and entrepreneurs.
The amendments to the law recognise Dubai’s huge investment potential, and comes after the UAE also announces offering 10 year visas to foreign investors, as well as citizenship to talented individuals.
Who’s moving?
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