Legislation Overview
- Full Title: Cabinet Resolution Promulgating the Executive Regulations of Federal Decree by Law Concerning the Commercial Register - Type: Federal Decree-Law - Issued Date: 07 Dec 2022 - Effective Date: 07 Dec 2022 - Sector: Economy and Business - Number of Articles: 45 - Current Status: Active
Summary
This legislation establishes the rules and procedures for the Commercial Register in the United Arab Emirates. It defines the data and information to be included in the Commercial Register, the requirements for registration and renewal, and the processes for deregistration and re-registration. The law also outlines the annotation of the Commercial Register, the correction of errors, and the use of the Commercial Register number. (Cabinet Resolution Promulgating the Executive Regulations of Federal Decree by Law Concerning the Commercial Register, 2022, Arts. 1-18) The Commercial Register is a critical database that contains information on all establishments practicing economic activities in the UAE. This legislation aims to regulate the registration, modification, and deregistration processes to enhance transparency and facilitate business operations. (Cabinet Resolution Promulgating the Executive Regulations of Federal Decree by Law Concerning the Commercial Register, 2022, Arts. 1-18)
What is the scope and purpose of this law?
The purpose of this law is to establish the rules and procedures for the Commercial Register, which is a database containing information on all establishments practicing economic activities in the UAE. The law defines the data and information to be included in the Commercial Register, the requirements for registration and renewal, and the processes for deregistration and re-registration. (Cabinet Resolution Promulgating the Executive Regulations of Federal Decree by Law Concerning the Commercial Register, 2022, Art. 1)
What are the key definitions?
The law provides the following key definitions: - State: The United Arab Emirates (Cabinet Resolution Promulgating the Executive Regulations of Federal Decree by Law Concerning the Commercial Register, 2022, Art. 1) - Ministry: The Ministry of Economy (Cabinet Resolution Promulgating the Executive Regulations of Federal Decree by Law Concerning the Commercial Register, 2022, Art. 1) - Minister: The Minister of Economy (Cabinet Resolution Promulgating the Executive Regulations of Federal Decree by Law Concerning the Commercial Register, 2022, Art. 1) - Competent Authority: The local government entity and the free zones authorities that are vested with the authority to issue licenses for economic activities (Cabinet Resolution Promulgating the Executive Regulations of Federal Decree by Law Concerning the Commercial Register, 2022, Art. 1) - Economic Activity: Commercial, industrial, tourist, media, and other economic activities licensed in the State (Cabinet Resolution Promulgating the Executive Regulations of Federal Decree by Law Concerning the Commercial Register, 2022, Art. 1) - License: A document issued by the Competent Authority stating that an establishment is licensed to practice its economic activity after being registered in the Commercial Register (Cabinet Resolution Promulgating the Executive Regulations of Federal Decree by Law Concerning the Commercial Register, 2022, Art. 1) - Deregistration: An administrative procedure conducted by the Competent Authority to modify the establishment's data entered in the Commercial Register (Cabinet Resolution Promulgating the Executive Regulations of Federal Decree by Law Concerning the Commercial Register, 2022, Art. 1) - Commercial Company: A company subject to the provisions of Federal Decree-Law No. (32) of 2021 Concerning Commercial Companies (Cabinet Resolution Promulgating the Executive Regulations of Federal Decree by Law Concerning the Commercial Register, 2022, Art. 1) - Establishment: Any entity subject to the provisions of Article (3) of the Decree-Law (Cabinet Resolution Promulgating the Executive Regulations of Federal Decree by Law Concerning the Commercial Register, 2022, Art. 1) - Commercial Register: A database created at the Competent Authority, in which the names and data of the persons subject to the provisions of the Decree-Law shall be registered (Cabinet Resolution Promulgating the Executive Regulations of Federal Decree by Law Concerning the Commercial Register, 2022, Art. 1) - Economic Register: A database created at the Ministry containing the data of the Commercial Register (Cabinet Resolution Promulgating the Executive Regulations of Federal Decree by Law Concerning the Commercial Register, 2022, Art. 1) - Commercial Register Number: An identification number assigned to the establishment practicing the economic activity when being registered in the Commercial Register (Cabinet Resolution Promulgating the Executive Regulations of Federal Decree by Law Concerning the Commercial Register, 2022, Art. 1) - Economic Register Number: An identification number assigned to the establishment practicing the economic activity when being registered in the Economic Register (Cabinet Resolution Promulgating the Executive Regulations of Federal Decree by Law Concerning the Commercial Register, 2022, Art. 1) - Decree-Law: Federal Decree-Law No. (37) of 2021 Concerning the Commercial Register (Cabinet Resolution Promulgating the Executive Regulations of Federal Decree by Law Concerning the Commercial Register, 2022, Art. 1)
What are the main obligations and requirements?
The key obligations and requirements under this legislation include: 1. The Competent Authority shall regulate the requirements and procedures for registration in the Commercial Register and publish them on its website. (Cabinet Resolution Promulgating the Executive Regulations of Federal Decree by Law Concerning the Commercial Register, 2022, Art. 3) 2. The applicant for registration in the Commercial Register must provide a trade name reservation certificate, proof of competence, valid ID documents, and the relevant license, memorandum of association, or articles of association. (Cabinet Resolution Promulgating the Executive Regulations of Federal Decree by Law Concerning the Commercial Register, 2022, Art. 3) 3. The Competent Authority may annotate the Commercial Register with any change or modification to the establishment's data within 3 working days in certain cases, such as issuing a government decision or failure to renew the registration. (Cabinet Resolution Promulgating the Executive Regulations of Federal Decree by Law Concerning the Commercial Register, 2022, Art. 4) 4. The Competent Authority must correct any material or procedural errors in the Commercial Register within 3 working days. (Cabinet Resolution Promulgating the Executive Regulations of Federal Decree by Law Concerning the Commercial Register, 2022, Art. 5) 5. Establishments must renew their registration in the Commercial Register within the period determined by the Competent Authority, subject to certain controls. (Cabinet Resolution Promulgating the Executive Regulations of Federal Decree by Law Concerning the Commercial Register, 2022, Art. 6)
What are the rights and protections?
This legislation does not include specific provisions on rights and protections granted to establishments or individuals under the Commercial Register.
What are the penalties for non-compliance?
This legislation does not include specific penalty provisions.
How does this law interact with other UAE legislation?
The law references the following related UAE legislation: - The Constitution (Cabinet Resolution Promulgating the Executive Regulations of Federal Decree by Law Concerning the Commercial Register, 2022) - Federal Law No. (1) of 1972 Concerning the Competences of Ministries and the Powers of Ministers, as amended (Cabinet Resolution Promulgating the Executive Regulations of Federal Decree by Law Concerning the Commercial Register, 2022) - Federal Law No. (18) of 1981 Regulating Commercial Agencies, as amended (Cabinet Resolution Promulgating the Executive Regulations of Federal Decree by Law Concerning the Commercial Register, 2022) - Federal Law No. (17) of 2002 Concerning the Regulation and Protection of Industrial Property of Patents and Industrial Designs and Models, as amended (Cabinet Resolution Promulgating the Executive Regulations of Federal Decree by Law Concerning the Commercial Register, 2022) - Federal Decree-Law No. (32) of 2021 Concerning Commercial Companies (Cabinet Resolution Promulgating the Executive Regulations of Federal Decree by Law Concerning the Commercial Register, 2022) - Federal Law No. (36) of 2021 on Trademarks (Cabinet Resolution Promulgating the Executive Regulations of Federal Decree by Law Concerning the Commercial Register, 2022) - Federal Decree-Law No. (37) of 2021 Concerning the Commercial Register (Cabinet Resolution Promulgating the Executive Regulations of Federal Decree by Law Concerning the Commercial Register, 2022) - Cabinet Resolution No. (58) of 2020 Regulating the Beneficial Owner Procedures (Cabinet Resolution Promulgating the Executive Regulations of Federal Decree by Law Concerning the Commercial Register, 2022)
When did this law come into effect and what are the transitional provisions?
This legislation came into effect on 07 Dec 2022, the same date it was issued. (Cabinet Resolution Promulgating the Executive Regulations of Federal Decree by Law Concerning the Commercial Register, 2022, Art. 18) The law does not include any specific transitional provisions.
Source Documents
This article analyses Cabinet Resolution Promulgating the Executive Regulations of Federal Decree by Law Concerning the Commercial Register for legal research and educational purposes. For the purpose of interpretation and application, reference must be made to the original Arabic text. In case of conflict, the Arabic text prevails. This does not constitute legal advice.