The
basic principle for setting up anywhere in the UAE is that entities setting up
in the UAE must have at least 51% of the company’s shares owned by UAE
national(s). Branches of foreign companies may be issued with licenses
providing that UAE nationals are engaged as sponsors to carry out promotion,
advertising and marketing activities for the business, but not actual trading
activities within the UAE. Therefore, in principle, it is not possible for
international companies to carry out their trading or service activities in the
UAE without local participation.
Notwithstanding,
the DIFC allows for the establishment of 100% foreign owned companies, whether
as a branch of an already existing foreign company or as a 100% incorporated
company within the DIFC.
Further,
the companies undertaking the financial services will not be subject to the
laws and regulations of the UAE Central Bank regulations instead will be
governed by the DFSA laws and regulations.
Winston Wambua
For more information please contact me on
Mobile +971553350517
Email: winstonk@live.com
Skype: Winston.wambua
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