Important Notice: We are committed to providing you with a safe environment to do business, in accordance with all the health & safety guidelines set out by the local authorities. The event will be delivered with strict standards of health & safety precautionary measures including social distancing, contactless transactions and hygiene protocols. Learn More

U.A.E. to Allow 100% Foreign Ownership of Maritime Businesses

07 Jul 2019

U.A.E. to Allow 100% Foreign Ownership of Maritime Businesses

The United Arab Emirates is preparing a draft law that would allow foreigners to own up to 100% of businesses in the maritime industry... accordance with specific criteria, Infrastructure and Development Minister Abdullah Al Nuaimi said Sunday in Abu Dhabi.

Read more: U.A.E. Eases Rules on 100% Foreign Ownership to Lure Investment

The legislation, which is expected to pass in the first half of 2020, will address areas ranging from vessel ownership to dispute resolution, according to Al Nuaimi, who’s also chairman of the U.A.E Federal Transport Authority. The minister referred to a cabinet decision on July 2 that allows each of the country’s seven emirates to set foreign ownership limits in various sectors.