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5/28/24, 4:31 PM Registrations open for Ministry of Economy's unified family business registry | Markets – Gulf News
The request to register a family company should be submitted to the licensing
authority. The Ministry of Economy will review the application and make a decision
based on the company’s compliance with the Family Businesses Law. If approved, the
Ministry will register the applicant in the registry.
Family businesses can voluntarily register their family charters with the Ministry. This
charter encompasses specific details about the ownership, objectives, and family
values, as well as mechanisms for evaluating shares and methods of distributing
profits.
The Ministry stated that registering family companies in the unified registry enhances
business continuity through intergenerational transitions. This is crucial under the
Family Businesses Law, which governs ownership, capital, share disposal, redemption
rights, and share evaluation.fsd
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