Request could not be processed : UAE

Step 1: Enter the Oqood portal and select the initial sales registration servicestep 2: Select the property, enter the information, attach the documents and choose the payment methodStep 3: Send the request electronicallyStep 4: Receive the document via a message in the buyer`s email. Seller: 2% of sales valueBuyer: 2% of sales value10 AED Knowledge fee per feeAED 10 Innovation fee per feeRun-registration surveys for developers: – (Oqood Portal – Real Estate Developers Portal) for the first saleCost of AED 1,000 Once the shares of the target company have been transferred to a new owner, ownership is transferred to the buyer. It is very likely that the new owner of the company`s shares will be able to appoint new auditors, key personnel and directors. The buyer may also dismiss certain officials. If this is the case, this should be indicated in the SPA and requires the consent of all parties. The buyer will follow in the footsteps of the shares as a new director; but the company`s employees, real estate, contracts and other assets, will continue to belong to the company. This means that no assets in the business need to be transferred. For this reason, a sale of shares can be carried out without the participation of third parties. Stock purchases are more discreet than asset purchases. You must ensure that the registered owner of the property is correctly mentioned in the purchase agreement. If possible, it should also be checked whether rights are granted with regard to the use of the property and land restrictions.

A copy of the community`s main statement should be requested to fully understand the nature of the use of the property. The acquisition of company shares is the acquisition of the operational activity of a company. No existing contract of the company changes with a purchase contract. If a shareholder decides to sell shares, he gets a complete break with the company. With respect to the purchaser of the company`s shares, there may be certain contractual promises to the company, also known as guarantees that continue to bind a shareholder after the sale of the company`s shares. The buyer acquires the seller`s business and this also means that he inherits the problems that exist from the date of sale. A typical business purchase agreement addresses several important issues, including the following: A stock purchase carries a lot of risk, especially compared to an asset purchase. It justifies that the buyer ensures that guarantees are included in the SPA in order to protect the buyer and the interests of the company. It is important to ensure that the person authorized to sign the agreement has the authority to do so. Otherwise, the entire agreement may be null and void.

Request a copy of the commercial license to see if the manager listed in the license is the authorized representative, or ask for a power of attorney authorized by the person signing on behalf of the developer. Unfortunately, this still does not guarantee the rights of buyers and does not provide certainty as to the completion of the project if the developers are in default with their own contractual obligations. Many potential buyers sign their purchase and sale contracts fairly quickly on the assumption that they would not be able to negotiate with a reputable developer and that they would miss the deal if they did not act quickly. However, this should not deter the developer from doing full due diligence and having the purchase agreement reviewed by a lawyer. A comprehensive review should be carried out to assess the risks, especially in this volatile market. While there are many factors to evaluate and consider depending on the purchase agreement, we have highlighted below the eight most important considerations that buyers need to focus on before signing their contracts: In the Dubai real estate market, whether you are a buyer or seller, navigating the entire process can seem like a daunting task. But a proper checklist can help you ensure a smooth entry into the real estate market. Our partner, Sarra Alsamarrai, highlighted in the following article the eight main considerations that buyers need to focus on before signing agreements. This is one of the most important provisions of the purchase contract for the buyer. As a general rule, developers can withhold amounts paid by buyers and terminate the contract if the buyer does not comply with its contractual obligations. .