The changes are yet to be announced in detail, they are being prepared by the Abu Dhabi Executive Council and the UAE cabinet, and are expected in next several weeks.
It was recently announced that changes to Abu Dhabi’s residency regulations will soon be amended in a bid to encourage investment and increase social stability.
The changes are yet to be announced in detail, they are being prepared by the Abu Dhabi Executive Council and the UAE cabinet, and are expected in next several weeks.
The acting executive director of international economic relations of the Abu Dhabi Department of Economic Development, Ahmad bin Ghannam, “What you can expect is further opening of ownership in the emirate of Abu Dhabi in coordination with the Ministry of Economy.”
It was previously announced that an UAE investment law – which will allow 100 percent foreign equity ownership in a number of non-oil sectors – was expected to be ratified in Q1 2018. At the moment, foreign companies in Abu Dhabi must have a local partner own 51 percent of shares.
The changes expected are modifications to visa regulations for retirees, several new types of visas and longer student and residency visas.
“The aim is to protect the local investor in a way that does not weaken the opportunities, efficiency and competitiveness of all categories of investors.”
