On 23 September 2018, the President of the U.A.E., His Highness Sheikh Khalifa bin Zayed Al Nahyan, issued Federal Law by Decree No. 19 of 2018 Regarding Foreign Direct Investment (“New FDI Law”), which went into force in November upon its publication in the U.A.E. Official Gazette.
The report titled Foreign Direct Investment in the United Arab Emirates: Updates on the U.A.E.’s “New FDI Law”, published by the U.S.-U.A.E. Business Council in partnership with the Trade & Commercial Office of the U.A.E. Embassy in Washington, D.C. and the international law firm, Akin Gump Strauss Hauer & Feld L.L.P., provides a succinct overview of the recent regulatory changes. It also includes a Q&A section that contextualizes the reform amidst longstanding U.A.E. government efforts to enhance global economic competitiveness, detailing many of the envisioned impacts on companies currently engaged in or pursuing FDI in the U.A.E.
As always, the Business Council stands ready to help its member companies better understand the commercial climate in the U.A.E. so as to make informed decisions in pursuit of their long-term business objectives.