Issuing power of attorney for purchase of shares in Dubai

A Power of Attorney for Purchase of Shares is a legal document that authorizes an individual (the agent) to act on behalf of another person (the principal) to carry out the process of purchasing shares or stakes in a company, within the scope defined in the document. This power of attorney is certified by a notary to ensure its legal validity and recognition, and it includes specifying the geographic and time scope, as well as the powers granted to the agent.

A power of attorney for purchase of shares allows the principal to delegate authority to the agent for tasks related to purchasing shares, such as signing contracts, transferring ownership, and dealing with relevant entities, whether in public or private joint-stock companies, limited liability companies, or others.

As a licensed office providing notary services, we issue and certify legal powers of attorney, including powers of attorney for purchase of shares. We offer quick response times, 24/7 online services, and provide mobile notary services, allowing the notary to visit the client’s location if needed.

Documents Required for Issuing a Power of Attorney for Purchase of Shares in Dubai

To issue a power of attorney for purchase of shares at a notary office, the following documents are required:

1. Emirates ID for both the principal and the agent.
2. Passport for both the principal and the agent.
3. Detailed information about the shares or stakes to be purchased, such as the company name and the number of shares.
4. The company’s articles of association or founding contract (if the power of attorney concerns stakes in limited liability or partnership companies).
5. Any additional documents the notary may require based on the specific case.

Steps to Obtain a Power of Attorney for Purchase of Shares in Dubai

To obtain a power of attorney for purchase of shares in Dubai, follow these steps:

1. Prepare the required documents as outlined above.
2. Draft the power of attorney, including the necessary details and agent’s powers. Note: If you do not have a draft, request assistance from a private notary.
3. Contact a private notary to schedule an online meeting.
4. Sign the power of attorney electronically.
5. Receive the power of attorney via email.

Our office has helped thousands of clients issue powers of attorney quickly and easily. Contact us now to request your power of attorney swiftly and accurately.

Power of Attorney for Purchase of Shares Template

Power of Attorney for Purchase of Shares

• Geographic Scope: United Arab Emirates
• Principal:
  • Name: …………
  • Nationality: …………
  • Emirates ID Number: …………
  • Passport Number: …………
  • Address: …………
  • Phone Number: …………
• Agent:
  • Name: …………
  • Nationality: …………
  • Emirates ID Number: …………
  • Passport Number: …………
  • Address: …………
  • Phone Number: …………

I hereby authorize and empower the agent to act on my behalf for the following actions as outlined below:

• Purchase the shares or stakes in the following companies:
  [First company name and number of shares/stakes]
  [Second company name and number of shares/stakes]
  (Additional details can be added as necessary)
• Sign contracts for the purchase of shares or stakes and complete all necessary procedures for finalizing the purchase.
• Transfer ownership of the shares or stakes from the seller to the principal.
• Deal with relevant entities, including government departments, stock exchanges, Ministry of Economy, or any other relevant entity.
• Open trading accounts with an authorized financial intermediary and conduct deposits and withdrawals on my behalf.
• Pay all fees, bonds, and expenses related to the purchase of shares or stakes.
• Vote in the company’s general assembly meetings if necessary to transfer ownership of shares or stakes.
• Submit any legal declarations required by official entities regarding the transfer of ownership of shares.

This power of attorney is valid for …………, or until the purpose for which it was issued is completed, whichever occurs first.
The agent may not delegate any powers to another person without prior written consent from me.

Signature of Principal: …………
Notary Acknowledgment:
This power of attorney was signed before me, …………, on //____ at …………
Signature of Notary: …………

Powers Granted to the Agent

When issuing a power of attorney for purchase of shares, the principal must clearly define the powers being granted, including:

• Granting the agent the authority to purchase shares, sign contracts, and complete all necessary procedures related to the purchase.
• Granting the agent the authority to transfer the ownership of shares from the seller to the principal.
• Granting the agent the right to subscribe to shares in companies offering them for public or private subscription.
• Granting the agent the authority to open trading accounts with a financial intermediary and perform deposits and withdrawals on my behalf.
• Granting the agent the right to finalize all transactions related to the purchase of shares and pay all associated fees and guarantees.
• Granting the agent the authority to attend and vote in general assembly meetings, if required for the transfer of share ownership.
• Granting the agent the right to make legal declarations to official entities regarding the transfer of share ownership.

Frequently Asked Questions (FAQ)

What is meant by the geographical and time scope of the power of attorney for the purchase of shares?

• Geographical Scope: This refers to whether the power of attorney is valid within the UAE or internationally.
• Time Scope: This refers to the period for which the power of attorney is valid. It is often limited to the completion of the share purchase process.

Can the agent appoint another person to act on behalf of the principal?

• An agent cannot delegate their powers to another person unless explicitly stated in the power of attorney document.

Contact Us Now for Issuance and Certification of Power of Attorney for Purchase of Shares

We are a licensed office offering private notary services in Dubai, with years of experience assisting clients in preparing and certifying legal documents related to business transactions, including power of attorney for purchase of shares. Thanks to our federal license, we provide our services across the entire UAE.

If you’re looking for the best legal services to issue a power of attorney for purchase of shares or to certify your power of attorney documents in Dubai, don’t hesitate to contact us using the information available on our Contact Us page.

On this page, we have discussed how to prepare a power of attorney for purchase of shares, highlighted its importance, and outlined the powers granted within it. Our office is committed to drafting and certifying these powers of attorney as an accredited private notary office.

Sources:

• UAE Companies Law