Update on the Foreigner Investment in the UAE
In light of the governmental efforts to raise the investment climate in the United Arab Emirates (“UAE”), the President of the UAE, his Highness Sheikh Khalifa Bin Zayed Al Nahyan, on 23rd November 2020, issued a new amendment in the Companies’ Law (the “Amendment”) to expand foreign investments within the UAE.
– The Amendment provided for foreign investors to incorporate a company within the UAE with 100% foreign ownership.
– Moreover, the amendments allowed electronic voting in the general assembly meetings as well as the issuance of share certificates in an electronic form.
– The Amendment also permitted the company to increase its capital by issuing bonds or stocks and converting them into shares.