In his capacity as Ruler of Dubai, Shaikh Mohammad Bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE, has enacted changes to the Dubai International Financial Centre (DIFC) Authority’s legal and regulatory framework. Companies Law, DIFC Law No. 5 of 2018, abolishes limited liability companies and introduces new classifications of public and private companies. It will also include the expansion of directors’ duties of DIFC companies and the introduction of restructuring and merger schemes to accommodate growing market consolidation activity. In addition, it will provide levels of oversight for complex corporate arrangements, such as those associated with listed entities, mergers, schemes of arrangement and debt restructurings. The changes to the Companies Law are accompanied by a complete revamping of the centre’s companies and operating regulations to facilitate ease of doing business, whilst complying with the latest requirements of the Financial Action Task Force and the Organisation for Economic Co-operation and Development on transparency of beneficial ownership and anti-money laundering requirements.