Virtuzone sheds light on new UAE mainland company ownership law
The UAE government has recently announced that foreign investors can now have 100% ownership of mainland companies.
In an interview with the Kris Fade Show, Virtuzone Chairman and Co-founder Neil Petch gives clarity on what it means for businesses and the UAE economy – attracting more businesses and foreign investment into the country and improving confidence in the local market.
“This is an FDI, which means it’s designed to bring foreign investment into the country,” said Neil, who also emphasised that more people are going to buy from local businesses, if more people visit the country.
The announcement comes after the UAE recently signed the Abraham Accords with Israel, which opened up trade between the two countries.