Alkhaleej, 19 September 2022: The penalties for companies failing to comply with changing trade name rules have been clarified.
Under Cabinet Decision No. 78/2022 related to the list of administrative sanctions for acts committed in violation of Federal Decree-Law No. 32/2021 regarding commercial companies, penalties will be imposed on companies and institutions operating in the UAE in the event of non-compliance with changing their trade name.
Violating companies and institutions will be fined 500 AED a month and up to 10,000 AED annually.
Limited liability companies will be fined 500 AED a month and up to 5,000 AED annually.
Private and public joint stock companies will be fined 1,000 AED a month and up to 10,000 AED annually.
The fine will be calculated after the expiration of 30 working days from the date of notification of the decision.
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