The UAE has released the full list of 122 categories for 100 percent ownership in the mainland under the UAE Foreign Direct Investment (FDI) Law.
Cabinet Resolution No.(16) of 2020 determines the 'Positive List' of sectors and economic activities in which foreign direct investment is permissible and the percentage of ownership is 100 percent.
The list covers key sectors - agriculture; manufacturing; transport and storage; hospitality and food services; information and communications; science and technology; healthcare; education; art and entertainment; and construction.
Cabinet Resolution No.(16) of 2020 also sets condition that companies need to invest in new technologies, contribute to research and development and meet the requirements of UAE licensing entities.
The Positive List includes a number of interesting activities such as manufacturing of toys, sports goods, electrical equipment, consultancy services, advertising, photographic activities, construction of buildings, translation services, primary, secondary and higher education, hotel and restaurant management, hospitals and music bands, among others.
The minimum investment has been set at Dh2 million for manufacturing of musical instrument; Dh3 million for manufacturing of sports and toy industries; Dh20 million for manufacturing activities of automobiles, metal ad medical equipment; and Dh100 million for healthcare.
Article 3 of the Resolution provides that the Foreign Direct Investment Project in the activities on the “positive list” shall take any of the following legal forms:
a. A limited liability companies, including one person (single owner) companies;
b. Private joint stock companies, including one person (single owner) companies.