The procedure of changing the local partner of a company

Question

Q: We are in the process of renewing our license. However, we want to change our old local sponsor. May I know what's the process? A: In order to change the local sponsor, you need to draft the Addendum to the Memorandum and Articles of Association, the Sale and Purchase Agreement…

Raluca Gatina · Accepted Answer

Dear Questioner,

I understand from your inquiry that you have a DED Company.

In order to change the local sponsor, you need to draft the Addendum to the Memorandum and Articles of Association, the Sale and Purchase Agreement and to notarize them.

You need also to submit everything to DED. The process is not an easy one, I recommend you to approach a specialized company to help you with all the paperwork.

We can assist you with the whole process. If you need our help, please contact me at rg@elnaggarlegal.com.

Thank you.

Best regards,

Raluca Gatina.

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