As announced in our previous legal briefing from November 23, 2020, the government of the United Arab Emirates (UAE) has amended the Commercial Companies Law (Federal Law No. 2 of 2015, “CCL”) by issuing Federal Decree Law No. 26 of 2020 (“Decree Law”) and thereby overhauling the entire corporate landscape by removing the general requirement to have a majority Emirati shareholder/service agent. In this legal briefing we provide an overview of the most significant changes introduced by the Decree Law.