Foreigners to Have Business Without Yemeni Partner

A new law numbered 1 for 2008 was issued on Saturday and it allows non-Yemenis to have a business without having a Yemeni partner. The law is an adjusted copy of the Commercial Law No. 32 issued in 1991 and amended under law No. 22 of 2004.

The new law amended article No. 28 of the former laws to become something like: "Non-Yemenis can have a business in Yemen with no need to have a Yemeni partner(s) and in accordance with the effective laws."

Parliament passed this law by the end of February following its discussion of a report submitted by its Trade and Industry Committee. This move comes in an effort to attract more investments to Yemen and to ease the measures before those seeking business opportunities in the country.