Ajman Free Zone : Change Partner

Name of the Organization : Ajman Free Zone
Type of Facility : Change Partner
Location : Ajman
Country : United Arab Emirates
Website : https://www.afz.ae/

AFZ Change Partner

** Replacement of partners.
** A request to sell the shares of a partner in a company to another new partner who is ready to buy the shares and operate the company with the other Owner.

Related : Ajman Free Zone Add Partner : www.statusin.org/6174.html

** Changing partner and keeping the company status the same (Free Zone Company).

Required Documents

** Letter from company (signed and stamped)
** Letter to point a manager
** Original License
** Chamber of Commerce Certificate + Commercial Registration
** New partnership contract

** Old partnership contract
** Passport Copy + 1 photo for the new owner
** Old Lease Agreement
** Security Guarantee (Original Passport Of the owner or cheque of Dh. 185000 which is $ 50,000)
** Advertisement for 15 days

Fees

License Amendment Dh. 500
Advertising Dh. 500
Partnership(*) Dh. 1000

(*) Depend on the capital of the company

Note:
** Previous and new owner must be physically present while applying the above procedure.
** Previous owner visa must be cancelled only if it’s under AFZA sponsor.
** Previous owner can change his profession/change his file to another company in side the free zone only if he wish to stay under AFZA sponsor
** An authority letter must be submitted in case the owner/manager authorizes a person to sign/apply on his behalf in his absence.
** In the country: an authority letter attested from:
1. Any court in UAE.
** Out of county: an authority letter attested from:
1. UAE embassy in the foreign country.
2. Ministry of foreign affairs in the UAE.
** Partnership fee might be changed depend on the capital of the company.
** All the old copies of the partnership agreement must be submitted back to AFZA in case changing the legal status of the license.
** Police report must be submitted in case losing any copy or the whole copies of the old partnership agreement.
** Please note that the establishment card must be modified.

FAQs

Are Free Zone Properties Awarded to Investors on the Basis of Purchase or Lease ?
All free zone properties are leased to investors on an annual basis that can be renewed yearly

Am I Authorized to Work and Establish Companies in Other Emirates Using the Ajman Free Zone License ?
Licenses issued by the free zone are valid for commercial operations inside the Ajman Free Zone and cannot be used to establish businesses in other Emirates, however, you can use it to sell goods to other Emirates through distributers

Do I Need to Rent an Office to Get a License ?
Yes, to get a license you need to rent an office

What is the Difference Between a Free Zone Establishment (F.Z.E) and a Free Zone Company (F.Z.C) ?
A Free Zone Establishment (F.Z.E) has a sole owner while a Free Zone Company (F.Z.C) has multiple owners

What are the Documents I Receive Along with the License ?
Documents that you automatically receive when applying include the license, the certificate of commercial and industrial chambers, and the lease. As for documents you should apply for, they include the establishment contract, and the partners shares’ certificate