Change of company founders in Dubai, UAE
The long-term existence and development of a business in the United Arab Emirates often involves the need to make changes to its corporate structure. One of the most common processes is the amendment of the composition of the founders. This process, although seemingly routine, requires careful adherence to the law and can be greatly simplified by contacting experienced professionals. In this article, we will detail the main steps and features of this process for organizations in the UAE.
If a company has several founders, the presence of all of them is required to make any changes to the composition. However, in some cases, the legislation allows the use of powers of attorney confirming the representative's authority to act on behalf of the founder. In this case, identification and confirmation of consent is carried out via videoconference with a representative of the registration authorities. This method greatly simplifies the procedure for those outside the Emirates.
If it is necessary to replace the manager of the firm who is not a founder, his personal presence is not required. As a rule, the replacement procedure is prescribed in the Articles of Association, and it is sufficient to follow the rules set out therein.
To add a new founder, his personal documents, a valid license and confirmation of the absence of overdue state payments or debts are required. This is a standard procedure for checking the financial condition of the company before making changes to its structure.
Edits can be registered either online or offline. In-person attendance speeds up the process considerably, allowing registration to be completed in one day. A remote procedure can take up to five business days.
If it is necessary to replace the manager of the firm who is not a founder, his personal presence is not required. As a rule, the replacement procedure is prescribed in the Articles of Association, and it is sufficient to follow the rules set out therein.
To add a new founder, his personal documents, a valid license and confirmation of the absence of overdue state payments or debts are required. This is a standard procedure for checking the financial condition of the company before making changes to its structure.
Edits can be registered either online or offline. In-person attendance speeds up the process considerably, allowing registration to be completed in one day. A remote procedure can take up to five business days.
The stages of making changes are:
- Collection of all necessary documents of representatives (passports, visas, proof of address, etc.), as well as company documentation (license, articles of association, etc.).
- Selection of the method of registration: either offline or offline, taking into account the location of the founders.
- Submitting the application to the relevant UAE government authorities. Online registration will require an electronic signature.
- Waiting for the application to be processed and for the government authorities to verify the information provided.
- Receiving confirmation of changes in the founders and updated registration documents.
As a result, this is a fairly complex process that requires a thorough understanding of local legislation. Incorrect actions can lead to delays, fines or even refusal to register amendments. Therefore, it is highly recommended to turn to experienced professionals who will help avoid possible problems and ensure a quick and effective solution to the issue.
Openbiz offers comprehensive support at all stages of the process of changing the composition of the founders, guaranteeing a professional approach and compliance with all legal regulations. By contacting us, you will save time, nerves and resources, focusing on the development of your business.
Openbiz offers comprehensive support at all stages of the process of changing the composition of the founders, guaranteeing a professional approach and compliance with all legal regulations. By contacting us, you will save time, nerves and resources, focusing on the development of your business.
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