Expatriate under Article 18 Residency can become company partners

  • 02/09/2024

The Ministry of Commerce and Industry has lifted the restrictions on expatriates holding Article 18 residency, permitting them to once again serve as partners or managing partners in companies. However, the restrictions continue to apply to expatriates under Articles 20, 22, and 24. Last month, the Ministry enacted a prohibition that prevented expatriates from owning businesses unless they possessed Article 19 residency. As reported by Al-Rai Arabic daily, the Ministry's systems are set to resume processing applications this week. Once operational, existing commercial entities with shareholders who have Article 18 and 19 residencies will be able to establish and renew their business status.

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