UAE’s foreign ownership move set to inspire new wave of Indian expat entrepreneurs

SourceArabian Business
SectorEconomy
CountryUAE

The UAE may have green lighted the "right vaccine" for Indian investors by abolishing the clause on local partnership, experts have predicted. The latest move, coming close on the heels of the decisions on long-term stay visas and remote working for professionals, is also expected to lead to the next generation Lulus, Asters, Landmarks and Sobhas, successful companies set up by Indian nationals in the UAE. Earlier this week, the UAE abolished the requirement for foreign investors to have an Emirati shareholder, meaning overseas businessment and women can now owe 100 percent of their company. VIDEO “This decision will naturally pave the way for many Indian investors to look at UAE seriously for setting up operations there,” Ashok Jha, former Indian finance secretary and a leading policy expert, told Arabian Business. “This will also lead to many investors – Indian as well as global investors who may have been holding back their plans - to have a second look at investing in the UAE,” Jha added. Ashok Kapoor, managing director of Organisation Pivot, a Dubai-based leading management consultancy firm, told Arabian Business: “This is a very positive development for both existing businesses and new businesses looking for a 'hassle free' country for foreign direct investment...read more...