The UAE Cabinet has reportedly approved Resolution No. 16 of 2020, which confirms the economic sectors and activities eligible for up to 100% ownership through foreign direct investment (the positive list). Previously, foreign investment in a UAE company was generally limited to 49% ownership, although the possibility for 100% ownership was provided via Federal Decree-Law No. 19 of September 2018. Resolution No. 16 confirms the positive list of 122 activities eligible for full 100% ownership in the following sectors:
- transport and storage;
- hospitality and food services;
- information and communications;
- science and technology;
- arts and entertainment; and
The resolution also sets out minimum capital requirements for each activity, as well as other requirements and conditions for certain business activities. Further details will be published once available.