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UAE amends company formation law in bid to boost competitiveness, entrepreneurship by Business Intelligence Middle East

UAE. The UAE has amended a law that required limited liability companies to invest at least AED150,000 (US$40,800) as start-up capital in a bid to boost growth and 'leverage the UAE's standing as a highly competitive economy,'WAM news agency reported.

Partners in limited liability companies “will determine sufficient capital requirements” for setting up their companies, WAM said, citing a decree issued by President Sheikh Khalifa bin Zayed Al Nahyan.