The United Arab Emirates will allow the creation of companies for acquisition or merger purposes, the Economy Ministry said on Twitter.
For the latest headlines, follow our Google News channel online or via the app.
The move is part of a series of amendments to commercial companies law aimed at facilitating business and attracting investment into the Gulf state.
Other changes include allowing branches of licensed foreign companies to transform into UAE commercial firms, as well as eliminating nationality requirements for members of companies’ boards of directors, the ministry said.
Previously, the chairman and the majority of the members of a company’s board of directors were required to be UAE nationals.
Read more:
UAE minister urges private sector to adopt shorter work week, adjust benefits
UAE government moves to 4.5 day working week, weekends to be on Saturdays, Sundays
Also Read
-
UAE minister urges private sector to adopt shorter work week, adjust benefits
UAE Minister of Human Resources and Emiratization, Abdulrahman al-Awar, urged on Tuesday private sector companies to adopt the new shorter work week ... Gulf -
UAE government moves to 4.5 day working week, weekends to be on Saturdays, Sundays
The United Arab Emirates has announced that it is to move to a 4.5 day working week, with weekends to transition to Saturdays and Sundays.The new ... Gulf -
UAE issues new 50 dirham note to commemorate Golden Jubilee
The United Arab Emirates has introduced its first polymer banknote to commemorate the 50th anniversary of the nation’s founding, according to a ... Gulf
