AYS Consultancy – Companies In Dubai Will Receive 100% Foreign Ownership

The U.A.E has recently approved 100% foreign ownership of companies which in the past was limited to businesses in the Free Zone. The Ministry of Economy which coordinates the implementation of new rules will submit the report to the cabinet in the third quarter, later this year, after which the decision will be enforced by the cabinet.

The U.A.E has always welcomed business leaders and innovators to its country. The U.A.E is known for their excellent infrastructure, open society, flexible legislation and the best environment for foreign investment and businesses. Currently, foreigners have 100% ownership of companies in designated Free Zone areas, although for companies in the mainland a local partner is required and foreigners can exercise just 49% ownership. This has all changed with the Cabinet putting forward the proposal for companies to receive 100% ownership of their businesses.

Setting up a business in Dubai provides foreign businessmen and investors the option of complete ownership and company management. Businesses will gain from this decision and be eligible to receive significant custom and tax benefits, as well as no restrictions on the nature and volume of movements of investment funds and its repatriation for businesses.

Andy Crampin, CEO of AYS Consultancy, stated that businesses will also benefit on a legislative level, “there will be no corporate taxes and income taxes for business owners, a simplified financial reporting system and the focus on protecting the interests of foreign business owners.”

“This opportunity will open up doors for further creation of successful companies in the U.A.E”, and he further added that, “our team of consultants will provide the fastest service for all company formation and visa applications as the U.A.E becomes an attractive setting for new businesses to become established. We will ensure that it is hassle-free and that everything is done the right way.”

Press Release By:

Be Unique Group, a Digital Marketing Company in Dubai.
Other services include Google AdWords Management, Social Media Management and Web Design and Development.

About AYS Consultancy

AYS Consultancy provides services to foreign companies and businesses from business registration, attesting legal documents, setting up bank accounts, registering for VAT and simplifying the process of visa applications. We have a team of consultants at your disposal and our priority is to make certain your business is set-up the right way. We have been successful in setting up businesses over the years and are specialized to help you overcome any challenges and obstacles.
For more information on how to set up your business in Dubai, visit our website on https://aysconsultancy.ae/.