Recently, in June 2018 a new law was announced by the government of The United Arab Emirates where investors will be allowed to own 100% of their companies in some sectors of the economy. This limits the risk of disrupting the existing economic market. The UAE cabinet, chaired by Dubai ruler, Sheikh Mohammed Bin Rashid al-Maktoum claimed that “This law would permit 100% foreign ownership of some UAE-based business, up from the current 49% limit by the end of 2018.”
However, the question that remains unanswered is – is this new law affecting the locals? Presently, only a few details of the law have been revealed. The chief economic advisor of Dubai’s Department of Economic Development, Mr. Safadi claims that the law is applicable to the “strategic sectors” of Dubai’s economy.