In compliance with the letter No. 42339 on 31/12/2024 issued by the Prime Minister Office, the Companies Registration Directorate issued an Official Announcement to all lawyers concerning the establishment of specialized companies.
1- Prohibition on Establishing Gold and Mineral Companies without Central Bank Authorization: Establishing companies specialized in gold and minerals is not permitted unless the Managing Director obtains a license to practice refining, smelting, and trading in these materials. This license must not exceed five years from its issuance date.
2- Restriction on Multiple Management Roles: The Managing Director of a newly established company cannot simultaneously serve as a manager for another company with identical activities.
The Directorate emphasized the importance of adhering to these instructions when proceeding with the establishment of companies to ensure compliance with applicable laws and regulations.
Issued by: Rashad Khalaf Hashim
General Director of the Companies Registration Directorate
Date: 08/01/2025