Q: I have a local sponsor currently but planning to cancel him and make the new landlord my sponsor. Is it risky to make your landlord your sponsor… A: Your local sponsor is a shareholder in the company and if he wishes to transfer his shares, then only he can be changed. You need to go to court…

Dubai, UAE

199

Can the business owner replace his local partner with his new landlord?

Hi,

I'm an auto garage owner in Al Quoz 4 and planning to relocate my garage business to Al Quoz 1.

I have a local sponsor currently but planning to cancel him and make the new landlord my sponsor.

Is it risky to make your landlord your sponsor & what are the things I have to ensure before taking this decision?

Imran Khan

Bin Eid Advocates & Legal Consultants

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23 Sep 2021, 17:23

Your local sponsor is a shareholder in the company and if he wishes to transfer his shares, then only he can be changed. Otherwise, you need to go to court.

Better to avoid making the landlord a partner in the interest of you and your business.

Call me for further consultation.

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Can the business owner replace his local partner with his new landlord?