Change of founders of a company in Dubai, UAE

Change of founders of a company in Dubai, UAE - Makebiz

The long-term operation or active development of a business in the UAE may require a variety of changes in the company’s management system. Changing the composition of the founders is one of the most common processes. It is important to cooperate with specialists in this field, who will help to study the main stages and peculiarities of the process in compliance with the law.

Let’s note a few important points:

1. In case the organization has several founders, all of them must be present to make any adjustments. 

2. the physical presence of each founder will facilitate the process. However, there is always a solution — executing a power of attorney and confirming identity online. In this case, the identity and its consent to make corrections is confirmed through a video call with a representative of the registration authorities. 

3. It is possible to change the manager of the company, who is not a founder, without his participation. This possibility is usually prescribed in the company’s Articles of Association.

4. To add a founder will need his personal documents and a valid business license. A check will also be made to ensure that there are no overdue government payments/debts of the current company.

To register the change, the founders can apply to the state authorities either online or offline. In person, the process can be faster and may take as little as a day. The remote process of making changes can take up to 5 days.

Making changes to a firm’s corporate structure is strictly subject to UAE law and has clear steps. Any business related actions should be backed by the support of experienced professionals in the field. The Makebiz team will provide comprehensive assistance in the processes of company registration, as well as its renewal and various amendments to the structure and license.

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