UAE to allow full foreign ownership of firms ...Kuwait

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UAE to allow full foreign ownership of firms
The United Arab Emirates announced on Wednesday it will lift a cap on non-local ownership and allow full foreign control of business ventures from June 1. The reform, originally flagged in 2019, will make it easier to do business in the Gulf state and encourage investment, the economy ministry said. "The amended Commercial Companies Law aims at boosting the country’s competitive edge and is a part of UAE government efforts to facilitate doing business," said Economy Minister Abdulla bin Touq al-Marri. The decision abolishes a longstanding law that limits foreign ownership to just 49 percent. To dodge the limit, some of the seven emirates that make up the UAE - includ

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