The UAE has made significant changes to the rules re: ownership of foreign companies and visas. A foreign investor may now own 100% of a company established in the UAE, regardless of economic zones, while certain individuals will be able to obtain a 10-year visa.
Both developments are significant for companies operating in the UAE, as it provides operational certainties as well as individual plans by professional expatriates living in the UAE. Companies operating under the former rules may review the impact of these changes going forward.
EY’s Global Tax Alert provides details herein.