Commenting on changes to the UAE’s company law due to come into force on 1 June 2021, which will enable foreign company ownership without an Emirati shareholder or agent, Faizal Bhana, Director – Middle East, Africa and India at Jersey Finance, highlighted how Jersey was well positioned to support inbound investment into the country:

“These changes are intended to add to the UAE’s competitive edge and stimulate investment into the country and our experience in talking to international investors suggests there will be no shortage of interest in exploring UAE opportunities resulting from these relaxations around foreign company ownership. Given our own long-term partnership with the UAE and our experience of working with advisers and investors with interests in the country, including being the first IFC to have a presence in the DIFC, we feel we are in a good position to match the UAE’s objectives with investor ambitions.”

Further information about the amendments to the UAE’s Commercial Companies Law can be found here.