Federal Decree by Law Concerning the Practice of Economic Activities in the State by Citizens of GCC States

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Federal Decree by Law Concerning the Practice of Economic Activities in the State by Citizens of GCC States

The last update on this law was listed on 30 Sep 2024

Issued Date: 30 Sep 2024
Effective Date: 01 Oct 2024
Official Gazette Date: 30 Sep 2024
Official Gazette No: 784
Legislation State: Active

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Index
Article (1)
Article (2)
Article (3)

Federal Decree by Law No. (25) of 2024 Concerning the Practice of Economic Activities in the State by Citizens of GCC States

We, Mohammed bin Zayed Al Nahyan, President of the United Arab Emirates,
‒ Having reviewed the Constitution; and
‒ Federal Law No. (1) of 1972, Concerning the Competences of Ministries and Capacities of Ministers, and its amendments thereof; and
‒ Federal Law No. (2) of 1984, Concerning the Practice of Economic Activities in the State by Citizens of GCC States; and
‒ Based upon the proposal submitted by the Minister of Economy, and the Cabinet's approval,
Hereby promulgate the following Decree by Law:

Article (1)

Citizens of States of the Gulf Cooperative Council (GCC) – whether natural or legal persons – shall be treated the same way citizens of the State are when practicing economic activities and professions in the State. With the exception of economic activities and professions designated by a resolution from the GCC Supreme Council or which are excluded, or certain conditions are required for its practice pursuant to a Cabinet resolution.

Article (2)

Federal Law No. (2) of 1984 Concerning the Practice of Economic Activities in the State by Citizens of the GCC States shall be repealed.

Article (3)

This Decree by Law shall be published in the Official Gazette and shall come into force as of the day following its date of publication.

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