Middle EastRegulatory

UAE’s maritime hub status bolstered by foreign investment law changes

Recent investment rule changes in the United Arab Emirates (UAE) are tipped to help bolster the nation’s maritime hub claims.

A range of maritime sectors, including shipowning, feature on a list of activities that can have 100% foreign ownership when it comes to onshore businesses in the UAE, doing away with the 51% sponsorship rule that had hindered investors in the past.

“A great deal of flexibility will now be available to entrepreneurs and existing concerns looking to set up in the UAE. It will be interesting to see whether it will lead to relocations and further investment in the country and in the region,” commented Dubai-based lawyer David Galea.

The new rules come into effect on June 1.

Sam Chambers

Starting out with the Informa Group in 2000 in Hong Kong, Sam Chambers became editor of Maritime Asia magazine as well as East Asia Editor for the world’s oldest newspaper, Lloyd’s List. In 2005 he pursued a freelance career and wrote for a variety of titles including taking on the role of Asia Editor at Seatrade magazine and China correspondent for Supply Chain Asia. His work has also appeared in The Economist, The New York Times, The Sunday Times and The International Herald Tribune.
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