Get Form Ref: Saif - Zone /legal/000/00/08 General Requirements For ...

Filling out the Form Ref: Saif - Zone /Legal/000/00/08 General Requirements For Share Transfer requires attention to detail to ensure compliance with the regulations. This guide is designed to help you navigate through each section of the form clearly and concisely.

Follow the steps to complete your form effectively.

1. Press the ‘Get Form’ button to obtain the form and open it in your document management system.
2. Prepare a request letter addressed to the Legal Advisor of SAIF-Zone. Ensure it is on the company letterhead and includes details about the number of shares being transferred, confirmation of the accuracy of the signature in the board resolution, undertaking to pay non-refundable fees, and a statement about the authority's entitlement to cancel the request after 30 days if there is no follow-up.
3. Draft a board resolution if the owner or shareholder is a foreign company. Ensure it is legalized and includes the power of attorney attested by the UAE Consulate from the country of origin.
4. Gather required attached documents, including passport copies (with visa page) of new shareholders, legalized corporate documents (memorandum and articles of association, certificate of incorporation, board resolution, and power of attorney if applicable), and a no objection letter from the sponsor if needed.
5. Note the legal charges, which include AED 5000 for share transfers up to three shareholders, and AED 1000 for each additional shareholder.
6. Ensure all remarks by any SAIF-Zone department are addressed before commencing the transaction. Obtain assistance from the help desk of the Legal Department for remarks lists.
7. Submit all original documents for amendment to the Lease and License Department after completing work at the Legal Department.
8. Complete all necessary signatures either in person or through a legalized power of attorney on the appointed date fixed by the Legal Department.
9. After finishing the share transfer procedure, ensure that the residence visa of the retiring shareholder is cancelled or transferred immediately.
10. Finally, review the completed form for accuracy, save your changes, and download, print, or share the form as required.

Take action now and complete your documents online to ensure a smooth share transfer process.