Page 426 - MOE ENGLISH PR - MAY 2024

5/28/24, 4:31 PM UAE Ministry of Economy opens registration in unified registry for family businesses - GulfToday

The UAE Ministry of Economy announced that it has started accepting applications from family
companies for their registration in the unified registry for family businesses.

The initiative aims to align the practices of family businesses with global standards and support their
continuity in line with the Federal Decree-Law No. 37 of 2022 on family businesses.

ADVERTISEMENT

Abdullah Ahmed Al Saleh, Under-Secretary of the Ministry of Economy, explained that the UAE,
thanks to the directives of its wise leadership, is committed to developing a robust legislative and
regulatory environment to enhance the growth of family businesses and support their continuity and
sustainability over the coming decades, in accordance with global best practices. This commitment
stems from the sector’s key role in promoting the growth of the national economy and supporting its
regional and global competitiveness.

The Ministry had launched the Unified Registry for Family Companies by virtue of Cabinet Decision
No. 109 of 2023, with an aim to build a comprehensive and standardised database containing all
information related to family businesses in the country. The goal is to elevate the operations of these
businesses to more competitive and diverse levels. Additionally, the Ministry has outlined a series of
criteria and requirements for the enrolment of a family business in this registry.

The Ministry had also conducted a series of meetings with various government entities, including
chambers of commerce and industry, licensing authorities in economic development departments and
free zones to strengthen collaboration and coordination in order to streamline the registration of
https://www.gulftoday.ae/business/2024/05/23/ministry-of-economy-opens-registration-in-unified-registry-for-family-businesses 2/3