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Apple to open store in Dubai: report

DUBAI, August 19, 2015

Apple plans to open its first store in Dubai this year after securing an exemption from foreign ownership laws in the UAE, said a Bloomberg report.

The exemption will allow Apple 100 per cent control of operations in the country, the Bloomberg report said quoting people with knowledge of the matter.

The exemption was a condition for Apple to set up in the UAE, the people said. Following the opening of the Dubai store, Apple will open a store in Abu Dhabi also, it said.

All businesses operating in the UAE must be 51 per cent owned by Emiratis or a company wholly owned by them unless they are based in free zones.

“Apple was licensed in the UAE through the Ministry of Economy according to the requirements of, and in compliance with the Commercial Companies Law, as well as the ministerial resolution on foreign company branches,” Ahmad Al-Hosani, director of trade registration at the Ministry of Economy, said in an e-mailed statement, the Bloomberg report said.




Tags: Dubai | Apple | Bloomberg |

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