The Ministry of Economy (MoE) in the United Arab Emirates (UAE) will temporarily suspend all e-services tomorrow for eight hours for development purposes.
According to the official notification and its website, the e-services will remain shut from 4 PM on Saturday (11 March) to 12 AM on Sunday (12 March).
The MoE provides several e-services to UAE residents. They include trademark services, consumer protection, patent services, industrial designs, anti-money laundering services, and many more.
New Commercial Agency Law in UAE
Last month, MoE announced that a new law for commercial agencies will come into effect on 16 June 2023. Under this law, the business of commercial agencies will be restricted to UAE nationals and public joint-stock companies with a minimum of 51% of national capital contribution.
It’s pertinent to mention here that the national capital contribution in UAE is the percentage of a company’s ownership or investment held by UAE nationals or joint stock firms.
However, under specific conditions as well as with the approval of the UAE Cabinet, foreign companies may still be permitted to serve as commercial agents for their own products.