Question 1

Q-1. What is the typical cost of Share Purchase Power of Attorney in the UAE?

Accepted Answer

The cost generally includes drafting, notarization, and possibly attestation and translation (if signed outside the UAE). It usually ranges from AED 1,500 to AED 3,000 or more, depending on complexity and where it's signed. Contact Safe Ledger for a clear quote.

Question 2

Q-2. Can I get a Share Purchase Power of Attorney online?

Accepted Answer

Yes, the drafting and consultation can often be done online. However, final notarization typically requires signing in front of a Notary Public. Some Free Zones are offering fully digital notarization. Safe Ledger FZCO can guide you based on the latest available options.

Question 3

Q-3. What is the difference between a Share Purchase POA and a general POA?

Accepted Answer

A share purchase POA is limited to authorizing the purchase of shares. A general POA gives broader powers for various matters like property, banking, etc. For safety and clarity, a specific POA is preferred for share transactions.

Question 4

Q-4. How long is the validity of a share purchase power of attorney?

Accepted Answer

It is usually valid until the share purchase is completed or until an expiry date mentioned in the document. It automatically ends if you or your agent dies, or if you choose to revoke it.

Question 5

Q-5. Can I cancel a Share Purchase POA if my plans change?

Accepted Answer

Yes, you can cancel it anytime. You’ll need to prepare a formal cancellation, get it notarized, and notify your agent and any third parties involved.

Question 6

Q-6. What documents are required for the Share Purchase Power of Attorney?

Accepted Answer

You’ll generally need valid passport copies of both you and your agent, along with details of the share transaction (company name, number of shares, etc.). More documents may be needed depending on your situation.

Question 7

Q-7. Do I need to translate my Share Purchase POA into Arabic?

Accepted Answer

Yes. For use in the UAE, POAs not originally in Arabic must be legally translated by a certified translator. This is a common and required part of the process.

Question 8

Q-8. Is a Power of Attorney mandatory for share transfer in the UAE?

Accepted Answer

No, it's not always mandatory. However, if the shareholder is not present to sign documents in person, a Power of Attorney is required to authorize someone else to act on their behalf for the share transfer process. It's commonly used in both mainland and free zone share transactions.

Question 9

Q-9. Can a foreign investor issue a Share Purchase POA for UAE transactions?

Accepted Answer

Yes, a foreign investor can issue a Share Purchase Power of Attorney. If signed outside the UAE, the POA must be notarized, attested by the UAE Embassy in the issuing country, and then legalized by the Ministry of Foreign Affairs (MOFA) in the UAE before it is accepted.

Question 10

Q-10. Is it possible to use the same POA for multiple share transactions in UAE?

Accepted Answer

Yes, if the POA is worded broadly enough, it can be used for multiple transactions. However, for clarity and legal safety, it is advisable to issue a specific POA for each transaction or include clear terms authorizing multiple purchases or transfers.

Share Purchase Power of Attorney in UAE

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