Full ownership of non-citizens is now available in Abu Dhabi for several commercial and industrial activities
The objective is to facilitate the practice of business in the Emirate and removing all impediments facing investment projects
The Abu Dhabi Department of Economic Development (ADDED) has announced a list of 1105 registered commercial and industrial activities that are open for ownership by natural and legal non-citizens enabling them to fully or partially own commercial companies to practice these commercial activities in Abu Dhabi.
The decision of the Department about activities available for foreign ownership stated that the list of activities available for foreign ownership is updated by decisions of the Council of Ministers defining the activities with a strategic impact. These activities are applied to companies licensed following the federal and local laws regulating business licensing controls according to the sort of activity.
“This announcement of the list of economic activities available for foreign ownership reflects the keenness of the Abu Dhabi Government to attract further foreign direct investments and to promote an open and resilient competitive business environment”, said HE Mohamed Ali Al Shorafa, Chairman.
He further underlined the Department’s willingness to keep on improving the business environment, by facilitating and streamlining the practice of business in the emirate and removing all impediments facing investment projects, by reducing the burden on business facilities. In addition, the Department is keen to provide incentives and implement initiatives that increase opportunities for the success of these enterprises and maintain their continuity in support of their sustainable growth and expansion.
The decision indicated that existing companies have the right to adjust their status, provided they comply with the regulations on activities or other applicable restrictions, by the procedures adopted by the Department.