Share Capital Change - Non-Free Zone

Company shareholders' resolution for the required amendment, signed by all the shareholders or their authorized representative having a valid power of attorney. In case the shareholder is a corporate entity, another resolution for the required amendment is requested from the corporate shareholder authorising the changes. Resolution attestation is needed for parent companies as below:

• UAE-based parent companies: Notarized by UAE Notary Public/attested by the relevant jurisdiction (as applicable)

• Non-UAE parent companies: Notarized and legalized up to the UAE Embassy level

Templates of resolution:
1. Shareholders resolution template
2. Corporate resolution template.

Additional documents for increasing the capital:

• Bank letter or bank statement from an existing bank located in UAE under the company name, stating a value equal to or greater than the new share capital, or auditor's confirmation letter certified by a auditor licensed in UAE is required.

Additional documents for decreasing the value of share capital:
The provided resolution should be declaring either:
i. That on the date from whieh the reduction is to have effect, the company is solvent; or
ii. That all the creditors of the company on that date have consented to the reduction. Auditor letter certified by a auditor licensed in UAE.

Additional requirements for shareholders holding valid Authorised Representatives (POAs):

• Power of Attorney (if represented by an attorney) with a valid passport copy or Emirates ID.

• The POA must be notarized by a notary public in the UAE or notarized and legalized up to the level of the UAE embassy from the country where it was issued. For assistance in attestation, please contact RAKEZ Value Added Services at vas@rakez.com.