FEDERAL DECREE-LAW NO. 37 OF 2021
ON THE COMMERCIAL REGISTER

HIGHLIGHTS OF LAW NO. 37 OF 2021 ON THE COMMERCIAL REGISTER

The Commercial Registry Federal Decree-Law No. 37 of 2021 intends to make the Economic Register a comprehensive reference for economic operations in the UAE, assisting investors and firms in developing their businesses based on recorded, integrated, and correct information.

The Law benefits all members of society as well as the relevant authorities in the government and corporate sector both inside and outside the nation. It is aimed primarily at those who carry out economic operations in the UAE, such as firms subject to the requirements of the Commercial Companies Law and civil corporations that adopt the form of commercial corporations.

AMENDMENTS TO LAW NO. 37 OF 2021 ON THE COMMERCIAL REGISTER

The most notable clauses and revisions to this Law include the establishment of the economic register as the official reference for data and information for establishments with economic activity in the UAE, as well as the ability to use the unified economic register number as an establishment’s digital identity.

The New Law standardised the minimal information requirements for such Commercial Registers. These Commercial Registers must now include the following information: 

• The name and proof of identity and address of each business entity’s founders (shareholders).
• The name, address, and trading activities of each business entity.
• The authorised signatories/directors/managers of each business entity.
• Details of the shareholders/members and the amount of its capital.
• The legal form of the business entity.
• Basic contact information.
• Any other information that may be specified in the regulations.

ISSUER OF LAW NO. 37 OF 2021 ON THE COMMERCIAL REGISTER

The Commercial Register law in the UAE typically falls under the jurisdiction of individual emirates. Each emirate in the UAE may have its own specific Commercial Register law, and these laws can vary to some extent.

In the UAE, commercial activities are regulated both at the federal level by the UAE Ministry of Economy and at the emirate level by respective government authorities. Each emirate may have its commercial register or authority responsible for regulating businesses and commercial activities within its jurisdiction.

WHO IS SUBJECT TO THE ‘COMMERCIAL REGISTER LAW’?

The “Commercial Register law” typically applies to businesses and entities operating in a specific jurisdiction, such as a country or region. The specific scope and requirements of a Commercial Register law can vary from one jurisdiction to another. In general, it is for:

• Businesses including sole proprietorships, partnerships, limited liability companies, joint-stock companies, and others.
• Individuals and entities looking to start or invest in commercial ventures must adhere to the provisions outlined in the Commercial Register law.
• Government authorities responsible for overseeing and regulating commercial activities within the jurisdiction.
• Lawyers, legal advisors, and consultants.