Page 53 - MOE ENGLISH PR - MAY 2024

Press Release

Ministry of Economy starts accepting applications for registration
of family businesses in the unified registry

H.E. Al Saleh: Registration of family companies in the unified registry forms
part of our efforts to create an optimal working environment for them, fostering
their growth and continuity

Abu Dhabi, 23 May 2024:

With an aim to enhance the operations of family businesses in the UAE, 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.

H.E. Abdullah Ahmed Al Saleh, Undersecretary 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. H.E. Al Saleh expressed his
happiness that the registration of family businesses in the unified registry complements the national
efforts to ensure an ideal working environment for family companies and encourage them to
expand into new economy sectors, thus contributing to solidifying the UAE's leading position as
a global destination for business and investments.

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 standardized 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.