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Is it necessary for all company partners to be present for the exit of one partner?

Is it necessary for all the partners and owners to be in the country if one of them wants to cancel his share?

Momentum Legal & Management Consultancy
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1 Jun 2021, 15:33

No, a specific POA can entitle the attorney to exit the partner, sign the shareholders' resolution and complete the exit or liquidation.

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Right Just Is Lawyers and Consultants
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2 Jun 2021, 07:43

The partner outside the country has to make a POA in favor of a person whom he/she trust.

Then, the process of cancellation can be carried out.

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Maryam Hayyaz & Wejdan Bushahab Advocates
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2 Jun 2021, 10:38

This is not required, but it is sufficient to give someone else a power of attorney to take the necessary procedures on his behalf.

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