Dubai World Trade Centre “DWTC” is a purpose-built complex for events and exhibitions located in the city of Dubai. The Dubai World Trade Centre is a multifunctional complex that includes exhibition halls, conference facilities, meeting rooms, and a range of services designed to host a variety of events, including trade shows, conferences, exhibitions, seminars, and cultural events.

What is share transfer?

Share transfer is the process of transferring ownership of shares in a company from one shareholder to another existing shareholder -individual or corporate-, or to a new shareholder -individual or corporate- who wishes to acquire shares in the company. It is simply the process of when an existing shareholder of a company wishes to sell their shares to another existing or new individual or entity.

People transfer shares in a company for a variety of reasons, reflecting their individual or business needs and circumstances, such as:

• Profit Realization: If the value of the shares has increased since the time of purchase, selling them can result in capital gains.
• Strategic Alliances: Companies may engage in share transfers as part of strategic alliances, or collaborations with other businesses to achieve common objectives.
• Liquidity Needs: Shareholders may transfer shares to meet immediate liquidity needs, such as funding personal expenses or investments.
• Investment Diversification: By holding shares in different companies or sectors, shareholders can spread their risk and enhance their overall investment strategy.

Types of share transfers in Dubai World Trade Centre:

There are two (2) types of Share transfers in DWTC, which are:

• Shareholder Change -for existing shareholders- (Individual or Corporate)
• Adding a partner to the existing establishment (Individual or Corporate)

Shareholder Change -for existing shareholders- (Individual or Corporate)

This type of share transfer refers to the process of transferring ownership of shares in a company from one shareholder to another shareholder who is already a part of the company. This type of share transfer involves the sale or transfer of shares within the existing group of shareholders rather than bringing in a new shareholder from outside the company.

Requirements for shareholder change in Dubai World Trade Centre:

• Board Resolution mentioning new shareholder details and share details.

(Must be provided by the parent company and attested by the UAE Embassy and Ministry of foreign affairs in case of a corporate shareholder)

• Passport copy of new shareholder.
• Residency Visa of new shareholder (if applicable).
• CV of new shareholder
• E-mail and phone number of new shareholder.
• NOC for new shareholder
• UBO form

Additional requirements for non-individual shareholders:

• Notarized Power of Attorney for authorized manager attested by the appropriate Authority.
• Certified True Copy for Certificate of Incorporation of Company or Certificate of Registration attested by the appropriate Authority.
• Board/ Shareholder Resolution (Buy new shares of an entity in DWTC Authority and appointing a manager) – attested by the appropriate Authority.
• Memorandum of Association (MOA) of the Company attested by the appropriate Authority.
• Good Standing Certificate
• Copy of License of the Company
• UBO Form

After the approval of the required documents, DWTC authority will apply for security approval for new shareholder. Upon obtaining approval, DWTC authority will prepare a new Memorandum of Association that has to be signed by the new shareholder alongside the Specimen Signature Form, whilst the old MOA needs to be returned to the authority.

Requirements for Adding a partner to the existing establishment in Dubai World Trade Centre:

• Board Resolution (mentioning new shareholder details and share details)

(Must be provided by the parent company and attested by the UAE Embassy and Ministry of foreign affairs in case of non-individual shareholder)

• Passport copy of new shareholder and new share distribution details.
• Residence Visa copy of new shareholder
• NOC letter for new shareholder
• UBO Form

Additional requirements for non-individual shareholders:

• Notarized Power of Attorney attested by the appropriate Authority.
• Certified True Copy for Certificate of Incorporation of Company or Certificate of Registration attested by the appropriate Authority.
• Board/ Shareholder Resolution (Buy new shares of an entity in DWTC Authority and becoming a partner and appointing a manager) – attested by the appropriate Authority.
• MOA of the Company attested by the appropriate Authority.
• Good Standing Certificate
• Copy of the company’s License
• UBO Form

After the approval of the required documents, DWTC authority will apply for security approval for new partner, then prepare a new Memorandum of Association. All the members “shareholders” will have to come and sign the new MOA and Specimen Signature Form whilst the old MOA needs to be returned to the authority.

How can CorpLex help you?

We at Corplex understand that navigating the complexities of the share transfer process can be a daunting task. That’s why we’re here to offer our expertise and support every step of the way. Whether you’re transferring shares within your company or introducing new shareholders, our dedicated team is ready to assist you.