Cabinet decree on investment in stocks by GCC citizens

ABU DHABI — The UAE Cabinet issued on Monday a decree revising a previous resolution on acquisition by GCC citizens of shares and incorporation of joint stock companies in the country.

By (Wam)

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Published: Wed 2 Nov 2005, 9:52 AM

Last updated: Thu 2 Apr 2015, 5:13 PM

According to Decree No. 23 for 2005, the text of Article (1) of Resolution No. 9 for 2004 shall be replaced by the following:

Subject to reciprocity principle, natural and legal GCC citizens are allowed the following: (a) to set up new companies, participate in their incorporation subscribe to their shares and trade in the same and (b) to hold and trade in shares of existing joint stock companies.

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