The president of the United Arab Emirates is expected soon to approve a long-awaited new law covering the operations of companies in the country, a step towards attracting fresh foreign investment, the economy minister said on Monday.
Global law firm DLA Piper has announced that there is still time for companies in Kuwait to become compliant with the recently-introduced Companies Law, for which amendments were passed by the National Assembly and published last week.
The United Arab Emirates new companies law, which is expected to come out in 2010, will relax foreign ownership restrictions but will stop short of allowing 100 percent ownership, an official said.
Mohammed Omar Abdulla, undersecretary of
The Dubai International Financial Centre (DIFC) has released its proposed updates on its Companies Law and Insolvency Law for public consultation.
The Companies Law has been updated to include the registration requirements laid down by the