The United Arab Emirates (UAE) has a new Commercial Companies Law (Federal Law No. 2 of 2015), enacted on 1 April 2015, which came into force on 1 July 2015. The law completely replaces the Commercial Companies Law which had been in place since 1984 (Federal Law No. 4 of 1984). This alert summarizes a number of significant changes which market participants and potential market entrants should be aware of.