Minister of Commerce and Investment Majid Al-Qasabi announced that the ministry will assign commercial registries a legal identity with a unified identification number “700” that electronically links them to government agencies, with the aim of improving the investment climate and enhancing competitiveness.
In addition, the minister announced that he had issued a decision to abolish the “company seal,” meaning it will no longer be required for the notarization and certification of corporate documents. He also highlighted the ministry’s latest measure to regulate the convening of general meetings for closed joint-stock companies and to issue invitations to such meetings electronically.
