Promising Sectors
Compelling Reasons to
Invest in Promising Economic Sectors
Strategic Impact Activities
Under Cabinet Resolution No (55) of 2021, the list of activities “with strategic impact” was announced, which are excluded from obtaining 100% ownership by foreign investors, unlike the rest of the economic activities in the UAE, which are open to 100% foreign ownership. The list includes 7 activities with a strategic impact, 6 of which are subject to the approval of the regulatory authorities in terms of:
List of Activities with Strategic Impact:
Security, defense and activities that have a military nature
subject to the approval and requirements of the Ministry of Defense or the Ministry of Interior, each in its field of competence.
Banks, exchange houses, finance companies and insurance activities
subject to the approval and requirements of the Central Bank of the UAE.
Currency printing
subject to the approval and requirements of the Central Bank of the UAE.
Telecommunication
subject to the approval and requirements of the Telecommunications and Digital Government Regulatory Authority.
Pilgrimage (Hajj and Umra Services)
subject to the approval and requirements of the General Authority of Islamic Affairs & Endowments.
Holy Quran memorisation centres
subject to the approval and requirements of the General Authority of Islamic Affairs & Endowments.
Services related to fisheries
100 percent Emirati ownership required
Licensing Procedures for Companies Practicing Activities with Strategic Impact
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01
A foreign investor who wishes to engage in an activity with a strategic impact shall submit a license application to the Department of Economic Development in the emirate concerned.
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02
The Department of Economic Development concerned submits the application to the regulatory authority concerned with the activity to be licensed within 5 working days from the date of receiving the application, provided it fulfills all requirements.
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03
The relevant regulatory authority shall issue its decision within 14 working days from the date of the request or the fulfillment of all requirements and conditions it deems appropriate. The decision includes the following:
- Approval of the application and the criteria of the minimum national share, with any controls and conditions it deems appropriate.
- Rejection.
