Heraclitus once rightly said - “Everything flows, everything changes.” We are talking about changing the name of the business in the United Arab Emirates (UAE).
While starting a business in the UAE, one of the initial steps to complete is the registration of a business name or a company name for your business. Once you get the Certificate of Registration, the remainder of the process is completed.
Sometimes, a company may decide to change the name for unknown reasons. Here’s when we at Commitbiz come into the picture. Our advisors can guide you through the procedure and complete it in a hassle-free manner.
But, just for your understanding, we have a guide prepared on how to change a business name in the UAE. Keep reading to know more.
Changing the Business Name
Article 12 (2) of Federal Law 2 of 2015 provides that a company may change its name to another name and such a name change will not affect its rights or obligations or any legal proceedings initiated by or against the company. Therefore, although you may not be required to subsequently amend the contracts entered into by the company if the company name has been changed, you may consider notifying the parties to the arrangements.
The steps are as under -
1. Get primary approval from the Department of Economic Development (DED) to change the business name. The documents required are -
- Registration and licensing application
- Proof of the reserved trade name
- The original business license & original Certificate of Registration in the Commercial Register
- Approval of the Ministry of Economy (MoE) for public shareholding companies and branches of foreign companies registered with the Ministry
- Board resolution to change the trade name for branches of foreign companies not registered with the Ministry of Economy
- Copy of commerce registry for the branch of UAE company, branch of free zone company, branch of GCC Company and for the branch of a foreign company (if professional license)
2. Issuing the amended license
Amendment to the Memorandum of Association (MOA) concerning the trade name changing (all corporate forms of the companies such as LLC, simple limited partnership, civil company, general partnership, private shareholding company except branches of foreign companies)
The documents required are -
- Shareholder’s Resolution affecting the change of trade name (Notarized & Attested at the level of UAE embassy)
- Undertaking to honour any liability on the existing name from the company
- Original Certificate of Incorporation
- Original Advertisement in two Local Newspapers showing the trade name change notice in Arabic & English
The steps might seem more straightforward, but collecting all the documents and submitting them to the DED can be of hassle to someone who wants to concentrate on their business.
Our advisors have more than 14+ years of experience in this field and can make the procedure hassle-free. Right from business incorporation to office space - we got it all covered. Contact us for more information.