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Abu Dhabi signals support for 100% foreign ownership
by This email address is being protected from spam bots, you need Javascript enabled to view it on Monday, 25 May 2009
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Results 1 to 8 of 8
Posted on Wednesday, 27 May 2009
Response to saiyed
Posted by Etisalgood at 14:37 UAE time
Mr. Al Suwaidi's meaning is clear enough; let me summarize for you:
100% ownership: new industries, old industries, other projects
Less than 100% ownership: other sectors
Clear as ice.
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Posted on Tuesday, 26 May 2009
100% ownership and a temporary visa that you have to renew every 6 months.
Posted by Andy at 20:19 UAE time
Just how long will you remain an owner if you have to continuously leave the country every few months?? Even worse is if the whole family has to leave country every few months. 100% ownership is only part of the problem what the owners need is 100% residency as well. We are hearing 100% ownership with temporary stay.
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The Meaning is Very Simple
Posted by Minumaster at 09:09 UAE time
Dear Saiyed, ....... the meaning is very simple .......... "We feel strongly inclined to grant 100 percent ownership to foreigners in new and old industries as well as other projects. The percentage might be less in other sectors according to the emirate's needs" means THEY will initially introduce some sort of 100% ownership kind of thing (of course with some catch) for the COUNTRY & then allow other Emirates to amend or mend it as per their convenience (of course for their sole benefit) !!!! ........ And...... "Ownership covers projects and not land," means, you (the Foreigners) bring the Projects & Ideas, build the Infrastructure, make the business operational, start earning profits and be prepared to face the ever changing laws, which might one fine day tell you something absurd and if YOU (The Foreigner) don't/doesn't like it, LEAVE (OUR) LAND AND HAPPILY TAKE YOUR "PROJECT" BACK.
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Posted on Monday, 25 May 2009
100% Ownership
Posted by Dubaiexpat at 00:05 UAE time
folks keep your fingers crossed.. i don't think this would ever become a law.. these guys whose come up with this idea would be a sponsor of 40 to 50 company's... why should they loose this easy money?? after all there would be some catch ..a percentage of income to the govt would most likely to come in place instead..
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Thank you U..A.E
Posted by Maroun at 00:02 UAE time
Dear All,
We should be thankful to what the U.A.E has offered us.Please do not forget everywhere else such as Europe and US you do not get the benefits you get here.Ofcourse there is a tax to be paid to the government.Business is business you take and you have to give back in return for living and using the country for your trade and business.This is fair.BUT what is not fair is the never ending changing roles.
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100% Foreign Ownership in UAE Companies
Posted by Edward Cunningham at 15:38 UAE time
In the current economic climate, this could be a cute way of disposing of toxic assets that have fallen from favour as oil price declines and real estate slows down or dries up altogether. Once sold, what stops a new enterprise being set up to compete? Elsewhere non-compete clauses in the sale sagreement would assist. But woukd tey really work in the closed UAE market?
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the catch
Posted by paul at 13:18 UAE time
Ok, so foreigners can have 100% of projects. The catch?
I mean, there must be something in the offing they are not telling us. They are not going to give up a major source of 'money for nothing' for locals and create a cheap and easy way for someone to start a business and get a visa.
Think about it. After much discussion and complaint they've decided to offer 6 month visas to people only if their property is over 1 million AED (despite the govt backed developers selling properties on the explicit understanding a residency visa was guaranteed). Are they then going to open up a cheap channel to get full residency for you, your family AND to be able to work without needing a local sponsor?
So it'll be hefty charges, or a % tax to the government or some other way to ensure you cannot properly compete with locals or use it as an easy backdoor to obtain residency. And as with the promise of freehold visas, you'd need to have a plan B in case they decide not to follow through on what was promised after all.
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Not Clear in Article
Posted by saiyed at 11:26 UAE time
Folks i wonder what Mr. Nasser Ahmed Al Suwaidi means in below para:
"We feel strongly inclined to grant 100 percent ownership to foreigners in new and old industries as well as other projects. "The percentage might be less in other sectors according to the emirate's needs" What does this means. Ownership covers projects and not land,"
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