This workshop which dealt with the provisions of the new Commercial Companies Law
for foreign companies while also highlighting how different the new law is from the previous law will go a long way in helping UAE companies to adopt the new law within the set time limit," she added.
Some members of the House demanded a clause be included in the draft companies law
regulating protection of competition and prevention of monopoly practices.
Hamad Buamim, Director General of Dubai Chamber of Commerce and Industy, told Gulf News: "There are a number of benefits for business brought about by the new UAE companies law
On March 25, the new Commercial Companies Law
(UAE Federal Law No.
The companies law
, which tackles a host of areas, may relax foreign ownership restrictions and also allow full ownership in some sectors upon request.
The new companies law
will help boost businesses and economic activities in the country.
Abu Dhabi: It took the Federal National Council 80 minutes to agree on the scope of the new companies law
and whether to call it the companies law
or commercial companies law
We are regulated in the Cayman Islands under the Banks and Trust Companies Law
and hold an unrestricted mutual fund administrator license.
But the prospect of wholesale changes to the Companies Law
-- which is expected to eliminate or dilute some of the legacy requirements for businesses to operate -- could have SMEs weighing their non-free-zone options.
Summary: DUBAI His Highness Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and Ruler of Dubai, has enacted updates to the Dubai International Financial Centre's, or DIFC, Companies Law
and Insolvency Law.
The firm is regulated in the Cayman Islands under the Banks and Trust Companies Law
Abu Dhabi A new companies law
will allow majority, but not full, foreign ownership in "some sectors," a senior Abu Dhabi Government official said Tuesday.