The service caters to adding or removing or replacing individual or corporate shareholder(s) in the company for non-free zone segment of customers.
Login to Portal 360
Click on company services & select corporate amendment - change shareholders
Initiate your request & upload required documents & complete the payment
RAKEZ verifies your request & initiates the amendment process
RAKEZ initiates the legal documents preparation & newspaper publication
All relevant stakeholders will receive an OTP via email to sign required documents through DED System.
RAKEZ verifies signatures & issues updated company documents
Request completed
Amended e-License
Amended e-partner list
Transfer agreement
Memorandum of Association/Amendment to Memorandum of Association (when applicable)
Amended Chamber of Commerce
Amended RAK DED license
Service Delivery Time: 25 to 30 working days (including 14 days newspaper publication)
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.
Color Passport Copy and Emirates ID/residency visa copy for the incoming shareholder (For UAE National, Family Book is required)
Acceptance Letter from the incoming shareholder. Click Here to access the template.
If the incoming shareholder is holding an Employee/Dependent visa, NOC from the current sponsor is required.
If incoming shareholder is corporate, below additional documents are needed (must be notarised and legalised up to the level of the UAE Embassy if its non UAE-based company, or Notarized by UAE Notary Public/attested by the relevant jurisdiction (as applicable) if it's a UAE-based based company):
Certificate of Good Standing/Certificate of Incumbency/Extract from Commercial Register (as applicable).
Trade License or Certificate of Registration.
Memorandum and Articles of Association and any amendments (if applicable).
Declaration of the Ultimate Beneficial Owner (UBO), along with his/her passport copy. Click Here to access the form.
Organizational chart showing the structure of the company up to the UBO names.
Important notes: 1. The partner's visa for outgoing shareholder must be cancelled before issuing the amended license. 2. Outgoing shareholder holding the Portal 360 shall be removed upon issuance of the amended e-license. The new shareholder shall register a new access at RAKEZ Portal Login.
Additional requirements for shareholders holding a 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.
Additional requirements for companies with land/warehouse facility: 1. NOC from Public Services Department. Please approach Public Services Department to obtain their NOC 2. NOC from the bank, if the company has registered security interest or mortgage.
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