Update on the UAE Foreign Direct Investment Law: Part 1

Christopher Lester, Connie Leung
Latham & Watkins LLP
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UAE Federal Cabinet approves Positive List of activities eligible for up to 100% foreign ownership.

WAM, the Emirates News Agency, reported on 2 July 2019 (the WAM Report) that the UAE Federal Cabinet has approved 122 economic activities across 13 sectors that will be eligible for up to 100% foreign investment (the July 2019 Cabinet Decision). This approval is the latest development in the UAE’s move towards encouraging foreign direct investment in priority sectors in the country, within the framework of the Federal Law No. 19 of 2018 Concerning Foreign Direct Investment (the FDI Law).

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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