UAE amends law to boost family-owned businesses

UAE amends law to boost family-owned businesses

The UAE cabinet approved a draft law amending provisions within the nation's Federal Law No. 18 of 1981, otherwise known as the 'Agency Law' that regulates commercial agency and distribution agreements within the country.. The draft law amendments will see changes to certain provisions within the Agency Law, particularly concerning the business sector, public shareholding companies, UAE nationals and foreign investors.. The statement noted that such changes will further encourage UAE nationals to engage in business activities, and invest in public shareholding companies while protecting their interests..