New Emirati law allows for foreign ownership of businesses
Speaking with Ron Friedman at the first Israel-Dubai conference, Managing Partner at Herzog Fox & Neeman (HFN) Meir Linzen discusses how that impacts those seeking opportunities in the UAE
“Today, if someone wants to do business in the UAE, they have to find a majority partner that will have 51%,” explained Meir Linzen when speaking to CTech’s Ron Friedman. “Now, the government has said that foreign investors, not just Israelis, will be able to trade here.”
Linzen is referring to a new Emirati law passed this week that allows foreigners to start up businesses in the UAE without the participation or ownership of a local partner. According to the Managing Partner, this can open up various opportunities relating to security, real estate, or high-tech industries.
Herzog Fox & Neeman (HFN) is an Israel-based law firm with more than 400 lawyers and 150 partners. While Linzen reveals that the firm has been active for more than 15 years in the UAE, the signing of the Abraham Accords is “a dream” for him and the company.You can watch the entire interview from the first Israel-Dubai conference above.