Cabinet Resolution Promulgating the Executive Regulations of Federal Decree by Law Concerning the Commercial Register
The last update on this law was listed on 07 Dec 2022
Related legislations
Disclaimer: Every effort has been made to produce an accurate and complete English version of this website/ legislation. However, for the purpose of their interpretation and application, reference must be made to the original Arabic text. In case of conflict, the Arabic text will prevail
Article (12) Liens on the Business Premises
The Competent Authority shall enter any mortgage created on the business premises or on any of its elements, such as the trade name, trademark, patents, industrial property rights, intellectual property rights and other elements of the business premises, in the Commercial Register according to the following procedures:
1. The mortgage applicant shall submit to the Competent Authority an application for mortgaging the business premises or any of its elements on the form designated for this purpose, accompanied by the documents supporting such application.
2. The Competent Authority shall scrutinize the application for mortgaging the business premises or any of its elements and shall issue its decision thereon within the period determined thereby under its regulations. If the application is approved, the Competent Authority shall issue a certificate of mortgage of the business premises or any of its elements, as the case may be.
Translated in cooperation with
