Heavy penalty for companies violating the percentage of citizens’ ownership

Cabinet Resolution No. (78) of 2022, relating to the list of administrative penalties for acts committed in violation of Federal Law No. (32) of 2021 regarding commercial companies, increased the penalties for companies operating in the UAE that violate the contribution of UAE nationals according to the related activities. Strategic impact.

The decision indicated that companies that do not comply with the decision are subjecting themselves to a large financial fine of up to 200,000 dirhams