Sharjah Economic Development Department “SEDD” announced that it would start implementing the full foreign ownership of investors, including natural and legal persons, from June 2021, at a rate of 100%, allowing them the right to own commercial and industrial companies with full ownership to practice activities at the level of the Emirate of Sharjah. Such thing is done without any requirements such as a specific capital or any additional fees for foreign investors. The decision also includes allowing branches of foreign companies to conduct their business in the emirate without the need for an agent of a foreign company.

This came in accordance with the decision issued by the department regarding the activities available for foreign ownership, based on the federal and local laws and previous decisions in this regard, especially Federal Decree Law No. (26) of 2020 regarding the amendment of the provisions of Federal Law No. (2) of 2015, regarding the Commercial Companies Law by adding articles that allow foreigners to establish companies and own them fully by100%.

Commenting on this, His Excellency Sultan Abdullah bin Hadda Al Suwaidi, SEDD Chairman, said that the Department’s announcement of the list of economic activities available for foreign ownership confirms Sharjah’s concerns to attract more foreign direct investment and its works to enhance its competitive business environment. All of this is done to achieve a number of objectives aimed at encouraging investment in Sharjah, attracting more new investors from different countries of the world, and then contributing to revitalizing the local economy and advancing economic development, to enhance the emirate's position on the local and global investment map. Likely, HE intensified SEDD’s commitment to activities of strategic impact alongside with its support to national companies in some activities. He also added that the Department continuously works to provide investment opportunities for national companies to enhance the economic field.

His Excellency also noted that SEDD is keen on to continuously improve the business environment, by facilitating and simplifying carrying out the business in Sharjah. He added that such thing is done through omitting and removing all barriers facing investment projects and investors, by reducing burdens on business establishments. Also, he stated that such thing can be done through providing incentives and implementing initiatives that increase the chances of success of these establishments and maintain their continuity, in order to support their sustainable growth and expansion.