Membership
Everyone, national or expatriate, natural person or legal person, practicing trading activity should subscribe to the Chamber, where he/she will be registered either at the head office or the branch in the area where the main office of his/her business is located.
The trading activities as mentioned above include the following:
a. Traders:
- Persons, whose profession is business.
- Trading Companies.
- Civil companies but taken the form of share holding companies or partnership companies as determined and prescribed by the Companies Law.
b. The below mentioned activities and those similar to them which intermediate between the manufacture and the customer and go after earning, shall be considered as business activities:
- Purchasing goods or other material and non material contracts for the purpose of selling them, either on the basis of as is where is condition or after transforming or classifying them.
- Purchasing or renting moveable things for the purpose of renting them for third parties.
- Selling or renting or re-letting things purchased or rented as mentioned in the above
paragraphs.
- Banking activities.
- Material supplying.
- Manufacturing.
- Land, sea or air transport.
- Commission agencies.
- Insurance against specific premiums.
- Leisure, theatre or hotel business.
- Publishing or printing.
- Public warehouses.
- Investment in mines, oil or gas field, or all materials extracted from inside
the earth.
- Property development.
- Public works undertaking.
- Property buying for selling at a premium.
- Business management and economic consultancy bureaus.
- Ship or aircraft building, buying , selling, investing, leasing or renting.
- Buying or selling ship
or aircraft equipment.
- Tourism services.
Individuals practicing small trading or simple profession involving negligible costs, such as hawkers, bargain sellers, those doing small-scale transporting business, land or marine, and those exempted from registering at the Commercial Registry, are exempted from this.
The applicant for registering his/her business should fulfil the following conditions:
- He/she should be enjoying civil or political rights.
- He/she should not be declared bankrupt.
- He/she should have a known work place from where he/she practices his/her business.
Membership application are to be submitted to the Chamber or its branch along with supporting documents as specified in the Chamber's internal regulation. The Chamber's Executive Committee or the branch will study the application and decide on it within two weeks from the date of submission to verify fulfilment of legal and regulatory conditions.
If the application is rejected, the applicant may revert to the Board of Directors which shall look into it within a month.
The member shall lose his membership in the Chamber, in the following cases:
- Loss of his/her status which qualified him/her to be a member.
- Bankruptcy. The rehabilitated bankrupt can be a member of the Chamber afresh.
- If the Arbitration Committee recommended loss of membership and the Board of Directors approved that.
- Loss of civil and political rights.
- If defaulted payment of subscription for a period of one year.
|