Abu Dhabi: The Federal National Council (FNC) will be reviewing on Tuesday a draft commercial companies law that would allow full foreign ownership of certain firms “but within specific conditions,” said Ali Eisa Al Nuaimi, a representative from Ajman.
“Members of the House will debate in a two-day session a draft commercial law that will allow 100 per cent foreign ownership of some companies, within specific conditions,” said Al Nuaimi, a representative from Ajman.
The draft legislation would authorise the Cabinet, on advice from the Minister of Economy, to name companies which would be fully owned by foreigners.
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