Bloomberg: Apple will get the exemption of foreign ownership law for the opening of stores in the UAE




A new report from the site Bloomberg pointed out that Apple got an exemption from the foreign ownership law in the UAE for the opening of the first stores in Dubai, that would be the first official store in the Middle East and the Arab world.

And got Apple to exempt from foreign ownership laws in the United Arab Emirates, which had to possess the UAE nationality holders to the proportion of at least 51% of the company’s shares, except in the case of a company in the free zones in the United Arab Emirates, which allows the possession of foreign companies fully .

The Web site Bloomberg that Apple got an exemption from the foreign ownership law, which will allow it to control 100% of all its operations in the United Arab Emirates, according to two people of knowledge holders in this regard, the report also indicates that Apple will open an official store in the city of Dubai this year, then store opening in Abu Dhabi City, respectively, and according to some people.

He said UAE Minister of Economy Sultan Al Mansouri in March that the state is currently working on a new law allows the possession of foreigners to 100% of the company, and that in certain industries, said Ahmed al-Hassani, Director of Commercial Registration in the Ministry of Economy of UAE that Apple company registered in the Ministry of economy with a commitment to fully with the Commercial Companies Law.

United Arab Emirates market is an important market for Apple, where there is in the UAE more than 17 million registered phone, and is more than 61% of them are smartphones, according to the Telecommunications Regulatory Authority, and remember some of the statistics that phone iPhone 5 feed was the most widespread phone Emirates in the last quarter of 2014.

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