Meet UAE's First 100% Owned Non-National Company: Amber Packaging in Ras Al Khaimah
Meet UAE's First 100% Owned Non-National Company: Amber Packaging in Ras Al Khaimah UAE is now allowing foreign companies to invest and own 100% ownership to increase investor confidence to set up Business here and enjoy tax free secure environment. An Indian LLC company, owned by Mr Dharamdev Bhatt becomes the first sole 100% owner as result of UAE's revised commercial companies law. Company which was initially set up under shareholder ratio of 51% in favor of RAKIA (RAK Investment Authority) and then shifted to RAKEZ (RAK Economic Zone) and 49% in favor of Mr Dharamdev Bhatt, the Indian Owner has now been restructured to be 100% owned by Mr Bhatt as per Federal rules to allow companies to be owned by non-nationals. Now, Amber Packaging, a company is fully owned by Mr Dharamdev Bhatt. The revised companies law initiated on December 1, 2020 now comes in full effect from June 1, 2021. The law defines categories where non-uae nationals are allowed 100% ownership thus making them