New Commercial Companies Law issued

Federal Decree-Law No. 32 of 2021 repeals Federal Law No. 2 of 2015 and, hence, Federal Decree-Law No. 26 of 2020. It confirms the recently introduced relaxation of foreign ownership restrictions and will come into force on 02.01.2022. Existing companies must adjust their position within one year of the new law coming into force.

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