Proposed Law in U.A.E. Could Encourage Investing

DUBAI — The United Arab Emirates is moving ahead with a major overhaul of corporate law to introduce unified accounting standards for all businesses, amend guidelines for share offerings in local capital markets, and extend the possibility of foreign majority ownership of companies nationwide. 

Currently, foreigners are not allowed to own more than a 49 percent stake in businesses outside specially designated free zones and only large — usually public — businesses are held to international accounting standards.

Link (submitted by Jordan)