UAE is a center for trade in the Middle East and one of the safest nations in the world. Businessmen view the UAE mainland as the perfect location to set up a corporation and a bank account since it is a tax haven with a robust bank network.

In the UAE’s mainland, the Limited Liability Company (LLC) business form is common. The new cabinet decision eliminates the need for local sponsors for the chosen commercial activities and industry sectors, granting foreigners 100% ownership in mainland companies in certain industries. Because of this, investors can form a limited liability company without a local sponsor.

Any organisation engaged in commercial, financial, industrial, agricultural, real estate, or other types of economic operations on the mainland is subject to the amendments made to Federal Law No. 2 of 2015 on Commercial Companies and Amended Law No. 26 of 2020.

The UAE Government’s Cabinet resolution establishes specific capital criteria and conditions that apply to the expat’s 100% ownership in the mainland firm. Obtaining 100% ownership of mainland (onshore) enterprises in the UAE requires a minimum share capital that ranges from around AED 2 million to AED 100 million, depending on the investor’s preferred industrial sector and line of business.