UAE Ministry of Economy opens registration in unified registry for family businesses – Gulf Today

UAE Ministry of Economy opens registration in unified registry for family businesses – Gulf Today

Photo used for illustrative purpose.

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.

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