The Ministry of Economy (MOE) and the Abu Dhabi Department of Economic Development (DED) have recently signed a cooperation agreement to enable the Abu Dhabi Business Centre (ADBC) to receive advertisement publication approval requests for changes to limited liability, general and limited partnership companies In Abu Dhabi and to collect fees on behalf of the MOE.
The arrangement is part of the MOE’s initiative to develop ADBC’s role as a “one-stop shop” for all commercial licensing activities in Abu Dhabi.
As part of these changes, we understand that the ADBC has extended the mandatory advertising period from one week to two weeks for the amendment of a commercial licence relating to a share transfer and/or a trade name change application. The advertising period must be observed prior to attending at the notary public in Abu Dhabi to execute the documents to effect the relevant changes, such as a share transfer agreement and/or an amendment to the memorandum of association. It should be pointed out that different procedures apply in Dubai.
Abu Dhabi companies should take into account the extended advertisement periods in the context of such changes as the DED will not issue a revised commercial licence without the relevant company having observed the new advertisement periods.