Questions & Answers
Safeguarding the transferee interests in a share transfer
We started a company in 2011 in JLT Dubai with X and Y as shareholders registered in the Memorandum of Association "MoA".
The MoA and trade license confirm me as a manager and authorised signatory. In 2015, shareholder X gave me a letter signed by him on company letterhead, granting me 15% of the company shares.
Q 1. Is this adequate to protect my interests?
Q 2. I would like to get this letter notarized. Will this help my case further? What documents are required for this?
Dear Sir,
I trust you are fine. Further to your query, please be informed that in order to safeguard your interest towards 15% shares, you must enter into a share transfer agreement and must register the same with Dubai Multi Commodities Centre Authority (DMCCA).
If such letter or agreement is not registered with DMCCA, then you will not be entitled legally to 15% shares in the company.
Should you have any further question and/ or concern, please feel free to contact us at 045547635 or you can mail us at info@awsuwaidi-advocates.com
Regards,
Aws M. Younis
Hi,
Thank you for your inquiry. I'll be glad to help with this issue however would it be possible for us to have a meeting in my office, Oberoi Centre in Business Bay. So we can discuss this further.
Kindly bring the signed agreements and the copy of the MOA.
This is going to be a free legal consultation.
My number is 055-140-5124. Feel free to message me anytime so we can schedule a meeting.
