Commercial Register: The Commercial Register Law has been amended allowing local authorities in each emirate to retain the right to establish and manage their commercial records, including registration, data monitoring and change.
A clearer scope for applying the law was also defined to include the registration of companies and economic institutions in all forms, whether commercial (companies) or professional, such as law firms, accountants, and others, to ensure the comprehensiveness of the data contained in the commercial registry for all economic establishments in the UAE.
The commercial register is an official log held by the Ministry of Economy containing details of all businesses operating in the UAE.
Factoring and Transfer of Civil Accounts Receivables [next page]
