Photos: The UAE will allow 100% foreign ownership of #UAE companies by end of 2018

The UAE will allow 100% foreign ownership of companies by the end of this year, it has been announced.

The news was shared by Ruler of Dubai, HH Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, via his Twitter, following a cabinet meeting held yesterday. The tweets also stated the laws would be implemented in the third quarter of 2018.

At today's Cabinet meeting, we decided to allow 100% foreign ownership of companies in UAE, with a 10 year visa for investors,scientists, doctors, engineers, entrepreneurs and innovators.
The UAE has always welcomed, and always will, innovators and business leaders pic.twitter.com/N93MqK89Rp

— HH Sheikh Mohammed (@HHShkMohd) May 20, 2018

This decision will be enforced by third quarter this year .
Our open society, tolerant values, excellent infrastructure and flexible legislation offer the best environment for international investment and exceptional talent. pic.twitter.com/kdOVX02q4L

— HH Sheikh Mohammed (@HHShkMohd) May 20, 2018