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Share Pledge (Offshore Company)
Customers may pledge the shareholder shares (can pledge whole or part of them) and amend their pledged Shares.
Process Steps
The Agent must make an appointment with the Jafza Lease & License team to submit the required documentation.
Documents Required
A. New/Amend Share Pledge
- Agent’s Request Letter
- Shareholder(s) Resolution stating the share pledge/amendment stamped by the Agent
- Share pledge agreement attested by the Court
- Bank confirmation regarding the share pledge/Amendment
- Power of Attorney (POA) from the Company and the Bank
- Passport copy of Power of Attorney (POA) holder
B. Release/Cancellation of Mortgage Share Pledge
- Covering letter from the Agent
- Incumbency certificate mentioning the last beneficiary shareholder
- Bank letter confirming the release
- Power of Attorney (POA) and Passport copy of the Power of Attorney (POA) holder from the Bank
Notes
The Registrar reserves the right to call for any extra documents if necessary.
Fees
New/Amend
| Attestation of Resolution | AED 200 |
| Issuance of NOC letter to the Court | AED 200 |
| Issuance of a letter to the Bank confirming the Share Pledge/Amendment | AED 200 |
Release
| Issuance of a letter to the Bank confirming the release | AED 200 |
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