A family business is any business in which two or more members of the same family are involved and most of the ownership or control lies within such a family. The earliest example of a family business may be farming in which members of the same family worked together, thus intertwining both the personal life…
The Foreign Direct Investment Law (Decree No 19 of 2018) established a framework enabling up to 100% foreign ownership of UAE businesses, outside of the designated freezones. Previously, foreign ownership was restricted to 49%, and ownership of at least 51% by a UAE national or company was mandatory. The several possibilities put forward by this…
Prologue In the last decade, the Gulf Cooperation Council (GCC) has witnessed some legislative developments signalling efforts to reduce barriers to foreign investment in most of its member countries. The move has come due to a sharp decline in crude oil prices since 2015 resulting in significantly lower state revenues and partly due to the…
The Ministry of Commerce and Industry (“MOCI”), has recently brought into force a new Foreign Capital Investment Law (“FCIL”) promogulated by Royal Decree No: 50/2019, effective as of 2 January 2020. The law has revitalized the regulations and administrative processes applicable to foreign investment in Oman. The new procedures improve the speed and efficiency of…
