No new UAE strict laws to prevent foreign investors from leaving
Authorities in Dubai issued an early-morning fact check statement on Thursday, denying reports that the UAE had imposed tough laws to stop foreign investors taking their capital out and exiting the emirate.
The reports claimed bank accounts would be frozen as part of these measures, which allegedly include restrictions on money transfers and capital movement in order to keep investors. The Dubai media office said the UAE economy is robust, with Dubai continuing as a global economic centre and magnet for investors.
The UAE authorities often appeal to the public to be cautious about relying on unofficial channels for verified information, and not sharing news that cause unrest in the society and could have wider ramifications during uncertain times.
The UAE's Ministry of Economy and Tourism said in a statement that such reports circulating on social media about imposing restrictions on the movement of capital or preventing foreign investors from transferring or managing their funds in accordance with the applicable laws and regulations are false.
The Ministry emphasized the UAE’s solid commitment for economic openness policies and in favor of the free movement of capital, consistent with international best practices, in a way that promotes a stable investment environment and attractive opportunities.
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