Page 434 - MOE ENGLISH PR - MAY 2024

5/28/24, 4:34 PM Ministry of Economy Opens Registration for Family Companies in Unified Registry
The 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.

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 launched the Unified Registry for Family Companies under

Cabinet Decision No. 109 of 2023 to create a comprehensive database and

enhance family business operations. It established criteria for registry

enrollment and collaborated with various government entities to streamline the

registration process.

Registration requests go through licensing authorities to the Ministry of

Economy, which reviews compliance before approval. Additionally, family

businesses can voluntarily register their family charters detailing ownership

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