Streamlines business procedures in the free zones
21 Aug 2022
The Authority for Investment and Free Zones issued a decree on August 21, 2022, which shortens the time required for ratifying the minutes of ordinary and extraordinary general assemblies and boards of directors. According to the new decree, the ratification of ordinary general assembly and board of directors' minutes must be completed within a maximum of one working day, while the ratification of extraordinary general assembly minutes must be completed within a maximum of two working days, after the necessary documents have been submitted.
Under this decree, the Authority's role is limited to reviewing the minutes of ordinary and extraordinary general assemblies and boards of directors, and approving them solely from a formal and procedural standpoint, without addressing their content.
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Type:
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Promotion and facilitation (Investment facilitation , Special economic zones)
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Industry:
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Sources:
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Government, The Decree of the Authority for Investment and Free zones, ..., 21 Aug 2022
