Major amendments to the UAE Commercial Companies Law announced

The most significant changes concern foreign ownership rules. The new regulations allow for 100% foreign ownership in mainland companies. Hence, the previously mandatory majority shareholding of Emirati nationals or wholly Emirati-owned companies will most probably be largely abolished. However, the changes will not be applicable to certain sectors, such as oil and gas. The Foreign Direct Investment Law, which has only recently enabled foreigners to hold all or the majority of shares in onshore companies in specific cases, will probably be repealed following the latest announcements. We will monitor all further developments closely and provide regular updates.

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