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Non-Tech : SLJB - Sulja Brothers Building Supply, Inc.
SLJB 0.000010000.0%Dec 5 9:30 AM EST
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From: Star the Wonder Pup11/24/2006 12:56:43 PM
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Foreign investment in the UAE is restricted. "Except for companies located in one of the free zones," reports the U.S. Trade Representative, "at least 51 percent of a business establishment must be owned by a UAE national. A business engaged in importing and distributing a product must be either a 100 percent UAE owned agency/distributorship or a 51 percent UAE/49 percent foreign limited liability company (LLC)…. There is no national treatment for investors in the UAE. Non-GCC [Gulf Cooperation Council] nationals cannot own land…. 22 out of 53 stocks on the UAE stock market are open to foreign investment. Ministry of Economy and Planning rules allow foreign investors to own up to 49 percent of companies on the stock market." Branch offices of foreign companies must have a national agent unless the foreign company has established its office pursuant to an agreement with the government. There are no controls or requirements on current transfers, access to foreign exchange, or repatriation of profits. Foreign ownership of land and stock is restricted. Based on evidence of discrimination against foreign investment, the UAE's capital flows and foreign investment score is 1 point worse this year.

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