Know the latest updates of company formation in UAE
There have been several new updates regarding company formation in UAE and RAK free zone company setup. One such rejoicing update is the change in Visa and foreign ownership rules. It is believed that these rules make a positive change in foreign investments in the nation.
Let us have a look at the change –
The UAE government has decided to make a few changes in the laws associated to visa renewal and foreign ownership/partnership of companies in the nation. In order to encourage foreign nationals to stay and set-up businesses in the nation, UAE has passed a rule that exceptional student in UAE can stay in the UAE for a decade. The rules also stress that highly qualified expats can join the local workforce after graduating from a UAE university. Earlier, these graduates had to return to their homelands after completion of their studies. This alteration will bring a lot of positive impact on the economy.
The UAE government is also making certain amendments to the foreign ownership rules for those who wish to operate their businesses in UAE. As per the amendments, foreign nationals planning company formation in UAE need not depend only on free zones for complete ownership. This move is believed to lead to a rapid growth in the number of organisations in UAE.
These amendments are believed to strengthen UAE’s position as an investor-friendly nation.