 Hi guys, you are watching OxyVlogs. There are great news for the economy of the UAE and the international investors who want to open a company in this country. You might know that if you want to open a company, on-shore company in the UAE, you need to have a local partner. And on the 20th of May, the UAE cabinet has announced a decision allowing 100% ownership of UAE-based enterprises for global investors. This law is expected to build the economy, change the investment landscape in the UAE and create growth opportunities by bringing more investors. The new law is expected to be introduced by the last quarter of 2018. So the investors will need to have a local partner anymore and they will have a 100% ownership of the UAE companies. In addition to that, all investors and professionals like engineers, doctors, along with their families as well as A-grade students will get a 10-year residency visa. This way the country will build enormous confidence for the investors who want to make the UAE their home. Sheikh Mohammed bin Rashid stated, our open environment, tolerant values, infrastructure and flexible legislation are the best plan to attract international investment and exceptional talents. Guys, as you see, the UAE is making great steps to attract international talents and investors. So, if you still doubt whether to come to the UAE or not, you should try because the UAE is continuing to grow and is opening a lot of opportunities for everyone. Let me know your thoughts about this new law in the comments below and I will see you in the next video. Bye-bye.