Investors have begun enforcing 100% foreign holdings in Sharjah’s Economic Development (SEDD) & ADED (Ajman department of economic development). This is done without special capital requirements or extra costs for overseas investors. The judgment also allows, international corporations to operate in the emirates without the necessity for an agent of a foreign corporation. More than 1,000 foreign investment economic operations were approved by the Department of Economic Development in Ajman (Ajman DED), with the exclusion of “strategical economic activity,”
The Economic Development Department of Sharjah is responsible for the economic development of the city. SEDD’s major goal is to work tirelessly to accomplish economic growth in the Emirate and to provide the greatest services and facilities to investors.

New Commercial Companies Law
The UAE’s New Commercial Companies Law, which went into effect on June 1, 2021, legalises 100% foreign ownership in the country. Non-Emiratis from all over the world will be able to establish onshore businesses in the country.
This change allowed investors of any nationality to start new businesses.
The UAE has made several legislative changes in recent months to maintain its progressive growth, particularly in the areas of immigration and society.
With the new Commercial Companies Law came into action on 1st June 2021 Sharjah & Ajman have put up a proposal to grant 100% ownership to foreign investors in commercial and industrial companies.
Sharjah’s Department of Economic Development (SEDD) declared that, from the 1st of June, it will respect the new trade regulations and will award 100% ownership to international investors. This judgment did not provide for criteria like the capital or the additional charges stated, which permit the branches of international corporations but did not allow the operation by an agent of a foreign firm in the Emirates.
The introduction of a list of economic activities open to foreign ownership “confirms Sharjah’s determination to attract more external direct investment” and “emphasises Sharjah’s efforts to strengthen Sharjah’s competitive business climate,” said Sultan Abdullah Al Suwaidi, Chairman of SEDD.
He further continued “These measures seek to boost investment in Sharjah, attract more new international investors, and contribute to revamping the local economy and driving economic development, to improve the Emirate’s position on the local and global investment map,”
SEDD is always working to enhance its corporate environment by making it simpler for Sharjah to do business “According to the company’s President, Sultan Abdullah bin Hadda Al Souwaidi. “The incredible prospects offered in banking, trade, and commerce attract international investors to Dubai and Abu Dhabi.
Similarly, The Ajman Department of Economic Development (Ajman DED) has also decided to enable foreign investors to purchase commercial and industrial properties in their entirety.
The Department of Economic Development in Ajman was established to attract foreign direct investment and maximise the emirate’s economic potential. Ajman was the first city in the United Arab Emirates to give international investors 100% freehold in 2004.
It was decided to follow the strategic objective of the UAE to create a competitive modern and global environment for investment and to implement recent modifications to the law on commercial companies. Over 1,000 foreign investment economic operations, other than those agreed upon at the Strategic Impact Committee, were approved by the Department under the supervision of the Ministry of the Economics, and more information will be published.
“By providing competitive investment infrastructure, this move is an important step in the direction of the new government’s policy and strategic vision.” Sheik Ahmed bin Humaid Al Nuaimi, Ajman’s Representative for Administrative and Financial Affairs and Chairman of the Ajman DED, made the statement. He went on to say that the decision would make conducting business easier and attract foreign direct investment to numerous critical industries in the emirate of Ajman, which would continue to support such advancements and options while also assisting economic diversification for long-term prosperity.
“We will constantly strive to provide the greatest possible investment atmosphere for investors,” he added.
According to Abdullah Ahmed Alhamrani, director-general of the Ajman Department of Economic Development, the department has invented a foreign investment and promotion policy aimed at promoting investment in the UAE and creating a competitive environment for ongoing and periodic investment. Given the benefits and opportunities, the Department would welcome international investment.
Post this implementation, Chemmannur International Group, a gold jewellery retailer, and FreshToHome, a fresh food e-commerce site, are among the first Indian companies to seek full control of their UAE businesses following revisions to foreign owners. Seems like post this decision the industries are going to witness a lot of changes in the coming time.
Thank You!
Related posts
1 Comment
Leave a Reply Cancel reply
This site uses Akismet to reduce spam. Learn how your comment data is processed.
Subscribe Now
* You will receive the latest news and updates on your favorite celebrities!
Cairo’s Taager enlarges its funding to $6.4m seed for its social eCommerce platform
Cairo-Egypt-based social eCommerce platform raised around $6.4M for its seed round on the 15th of July 2021. The company has 5 investors till now. During the seed round the participation of Raed Ventures, Beco Capital, Breyer Capital, and some individual investors including Careem’s Magnus Olsson…
Faisalabad based fintech DigiKhata raises $2 million in a seed round on 8th July
Pakistan-Faisalabad-based fintech: DigiKhata raised around $2 million in a seed round on 8th July, 2021 to empower and support small businesses. With $2.1 million as their total funding, the raise was guided by Chinese VC MSA Capital and joined by Shorooq Partners, SOSV, +92 Ventures,…
Jordan’s Book Summary Start-up Wajeez Raises $3 Million in Pre-Series A Round
Jordan-based EdTech startup and book summary platform Wazeej, has successfully raised $3 million in a pre-series A round. The funding round that was led by technology venture capital fundSTV, also witnessed the participation of Abu Dhabi’s Shorooq Partners, Jordan’sMawdoo3, and Wise Venture. Founders Wajeez was…
Nejree has acquired $15 million in a Series A funding round for its ‘try now, buy later’ marketplace
Article’s highlights: Nejree, an e-commerce platform, received a $15 million Series A financing from the Impact46 growth fund. Nejree, which was founded in 2018 by Ibrahim Almogren, uses the try now, buy later (TNBL) concept to fill a crucial gap in the virtual showroom…
Any Truck, Any Time, Any Where: UAE’s ‘Uber for trucks’ TruKKer
TruKKer is a Digital Freight Network that blends Demand & Supply for land freight services. The network is built on real-time data analytics that creates transparency, reliability, and utilization-based savings for shippers and thousands of transporters. The network’s rapid growth and scale are creating collective…
Pure Harvest Smart Farms: Year-Round, Premium Quality Produce
Pure Harvest Smart Farms is a UAE-based tech-enabled agribusiness that focuses on the year-round production of pesticide-free premium fruits & vegetables. Pure Harvest is an established leader in sustainable agriculture in the challenging climates of the Arab Gulf region. Founders Sky Kurtz, Co-founder and CEO-…
Building Blocks to Your Card Issuance: Abu Dhabi fintech NymCard
Middle East-based NymCard is the only BaaS provider that offers a modern payment issuing and processing platform, allowing booming startups, large enterprises, fintech, and banks, in Africa and the Middle East region, to instantly create, control, and distribute virtual or physical cards through their modern,…
Two brothers, one startup and an urge to create an honest impactful brand: Groovy’s inspiring story
While we all were sitting home, groovy started out with a vision to create and give Mitkaran Singh and Rajneesh Sharma started the production of fresh and original juices and they sold 150ml packs for 10 INR each. They started out in the year 2020…
Jordan’s Book Summary Start-up Wajeez Raises $3 Million in Pre-Series A Round
Jordan-based EdTech startup and book summary platform Wazeej, has successfully raised $3 million in a pre-series A round. The funding round that was led by technology venture capital fundSTV, also witnessed the participation of Abu Dhabi’s Shorooq Partners, Jordan’sMawdoo3, and Wise Venture. Founders Wajeez was…
Cairo Based Discount App Startup: LUCKY
Algebra Ventures has invested in Egyptian loyalty solutions firm Dsquares ahead of the launch of its B2C consumer-tech product, the Lucky Discounts App. ABOUT Dsquares was founded in 2012 by Marwan Kenawy, Ayman Essawy, and Momtaz Moussa to assist businesses to enhance client loyalty and…
Presenting before you all PayTabs to power the future of payments in the MENA region
Do you also like to have instant access to the amount paid by your clients using all major credit cards from all over the globe on your websites or mobile apps with just one click? Then go no farther than this comprehensive payment processing solution…
Are you ready to use ‘Adzily’ to make your next display ad more convenient and productive?
Do you run a start-up and want to acquire control over your advertising so that you can reach your target audience? Then I have to inform you that you are on the right track. Read the rest of the article. About Adzily Adzily is the…
JustMop: Dubai Based Clean-Tech Startup A New Definition Of Keeping The Home Clean
On-demand companies are gaining popularity in a variety of industries, including transportation, grocery, health and beauty services, and freelancing providers. According to the American Community Survey of the United States Census Bureau, the on-demand economy engages more than 22.4 million customers yearly and generates US$57.6…
Pay your bills with ease: MadfooatCom Transforms Electronic Billing and Payments
MadfooatCom is the first e-payments company based in Amman, Jordan, established in 2011 with an investment by Oasis500, seeking to disrupt the cash payments in the emerging markets.Ithas created a next-generation, real-time electronic bill presentment and payment (EBPP) platform that allows customers to make payments…
A complete guide to Expo 2020 Metro Extension line in Dubai
The inauguration of a 15 km long extension to the Metro Red line – Route 2020, was done by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President as well as Prime Minister that belongs to UAE and Ruler of Dubai. The opening of…
A complete guide to plan your stay in Dubai during Expo-2020
Despite being held in 2021 this expo is named Expo 2020 With the theme- “Connecting minds, creating the future”, UAE is creating yet another beautiful experience for everyone around. The city & its hotel witnesses one of the peak season during this time hence you…
A guide to the safest travel options, if you are a woman traveling for Expo 2020.
Expo 2020, now to be held in 2021. Know all about dates, tickets, and travel in this article. Dubai, which is one of the 7 emirates of the United Arab Emirates, is amongst the world’s most popular destinations for travel and tourism as well as…
IPL Enters EXPO 2020 Dubai: The catalyst for change
Rajasthan Royals, the pink team of the Indian premier league announces a marvelous title sponsorship deal with Expo 2020 Dubai for the upcoming 14th season of IPL. As a part of the association, “Expo 2020 Dubai” will appear on the front of Rajasthan Royals’ jersey…
FIDE world chess championship to be held at Dubai Expo 2020
The upcoming FIDE World Chess Championship, which is the highlight of the world chess calendar, is all set to take place at the state-of-the-art Dubai Exhibition Centre, co-located at Expo 2020, from November 24 to December 16. NEW DATES AND EXCITEMENT The world governing body…
India-based PolicyBazaar raises $75M in order to expand in the middle east market
PolicyBazaar has raised around $75M in order to expand its network in the middle east market. The funding was led by US-based Falcon Edge Capital. The company had experienced a 66% increase in revenue to $70M in FY2020 but had also experienced a loss of…
Shiprocket has received $41.3 million in financing from PayPal Ventures and Bertelsmann
“It doesn’t matter how long you’ve been in the business. It all comes down to the calibre of your years of experience.”- Shiprocket Highlights of the article New investor Tech Edge Ventures joined existing investors March Capital and Tribe Capital in the round. The most…
Eyewear Unicorn Lenskart Secures $220 million, To Expand in Asia and Middle East
Omni-channel eyewear brand Lenskart, secured $220 million in a funding round that was led by Temasek Holdings Pte and Falcon Edge Capital. The round also witnessed the participation of existing investors Bay Capital and Chiratae Ventures, valuing the startup at $2.5 billion. Avendus Capitalacted as…
Connect Ads, MENA’s Platform for Digital Initiativesis acquired by Aleph for 86 per cent
ConnectAds is the platform of choice for the largest names in the digital business. Aleph Holding, a global partner to the world’s largest digital media companies, has confirmed the cash and stock swap acquisition of 86 percent of Connect Ads. Aleph Holding will join…
SRMG Acquires 51 percent stake in Arab’s leading podcast platform Thmanyah
Saudi Research & Media Group (SRMG), the parent company behind major media outlets, including Argaam, Asharq Al-Awsat, Asharq News, and Arab News, has acquired a 51 percent stake in Thmanyah, a leading Arabic podcast platform and documentary producer across the MENA region. About Thmanyah Founded…
Vaccinated UAE residents can now visit over 30 cities in 19 countries quarantine free: here’s what you need to know
Emirates airlines stated that UAE residents can now travel quarantine-free. The residents are allowed to travel to over 30 cities in 19 countries quarantine-free. They’ll be expanding their grid and starting more than 280 weekly flights from UAE heading to various destinations such as Europe,…
Soaring High: Wizz Air launches cheap flights from Abu Dhabi to Santorini
The following are some of the article’s highlights: Insights to Wizz Air Abu Dhabi. The low-cost carrier will travel to one of the most popular tourist spots in Greece twice a week. Wizz Air Abu Dhabi has begun flying straight from Abu…
Well written and explained