UAE Business Laws: Compliance Guide for Foreign Firms
Published by Corpy
https://corpy.xyz/uae-dubai/business-laws/uae-business-laws-compliance-guide
Corpy business-formation guide, fact-checked and corrected.
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The UAE Commercial Companies Law, codified as Federal Decree-Law No. 32 of 2021, is the foundational legislation governing corporate entities in the UAE. It replaced the earlier Federal Law No. 2 of 2015, and this same 2021 law removed the requirement for UAE national majority ownership in most business activities.
AfterThe UAE Commercial Companies Law, codified as Federal Decree-Law No. 32 of 2021, is the foundational legislation governing corporate entities in the UAE. It replaced the earlier Federal Law No. 2 of 2015. The removal of the requirement for UAE national majority ownership in most business activities was introduced slightly earlier, via Federal Decree-Law No. 26 of 2020 amending the 2015 law, with the ownership provisions taking effect June 1, 2021.
Why: The article had wrongly credited the removal of the 51% UAE-ownership requirement to Federal Decree-Law No. 32 of 2021 (the general Companies Law codification); the ownership change actually came via the separate Federal Decree-Law No. 26 of 2020.
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