Dubai Chamber of Commerce and Industry, in cooperation with Clyde & Co LLP, recently organised a webinar updating businesses on New Amendments to the UAE Commercial Companies Law.
The webinar was attended by 540 participants, including business owners, managers, contract specialists, lawyers, legal practitioners, and investors representing a wide range of economic sectors. The session was moderated by Naji Hawayek, Partner at Clyde & Co LLP; Benjamin Smith, Partner at Clyde & Co LLP; and Priamvada Princeton, Corporate Specialist at Clyde & Co LLP.
The webinar highlighted important amendments made to the UAE Commercial Companies Law, which allows foreigners to own 100% of businesses in the country.
During the session, the speakers shared valuable insights on changes to foreign ownership laws, the impact of such changes on the corporate structuring and transactions in the UAE, establishment procedures and corporate governance.
Jehad Kazim, Vice President - Legal Services at Dubai Chamber, said that new amendments to the UAE’s Commercial Companies Law enhance economic competitiveness and boost investor confidence, adding that the new foreign ownership laws strengthen Dubai’s value proposition to foreign investors.
“The recent changes to the UAE's Commercial Companies Law has been much awaited by the investor community and the webinar has evidently shown the traction and positive impact we expect these developments to have on the country's economy. We hope this session addressed the different action points for businesses to consider as they approach corporate structuring and transactions in the UAE,” said Benjamin Smith, Partner at Clyde & Co LLP
Dubai Chamber regularly organises training seminars and workshops to raise awareness about important matters and issues impacting the business community in Dubai. These events fall in line with its strategic objectives of creating a favourable business environment and supporting business growth in the emirate.
Source: Dubai Chamber