UAE to include 10 new sectors in Commercial Companies Law

UAE to include 10 new sectors in Commercial Companies Law

Top officials during the seventh edition of the Sharjah Economic Ramadan Majlis.



A landmark legislation in the Commercial Companies Law, which allows 100 per cent foreign ownership of onshore companies in the UAE, is in its final stages of formation, said Abdulla Al Saleh, Undersecretary of the Ministry of Economy for Foreign Trade and Industry.

Speaking during the seventh edition of Sharjah Economic Ramadan Majlis, Al Saleh said that the legislation will enable investors and business in 10 new sectors of strategic importance to come under the purview of the law, and the list sectors and the regulations associated with their entry into the local market will be announced by the UAE Cabinet soon.

Al Saleh added that the cancellation of the national service agent requirement came into force on April 1, also affirming that all current and previously licensed businesses in the UAE can amend their