Agreement of selling a commercial shop

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Conditions and Requirements

Definition

المحل التجاري هو مجموع أموال مادية ومعنوية تخصص لمزاولة أعمال تجارية.

Pre-Requisites

1. Contractors or their representatives, parents, guardians or custodians shall appear before the Notary.

Steps

1. Set appointment for appearance before Notary for signing.

2. Review application form by Notary.

3. Pay by credit card or e-Dirham.

4. Examination and identification of instrument?s options.

5. Enclose documentation required for authentication.

6. Fill required data or information in the form

7. Sign and receive document.

Conditions

1.  The provisions of the contract shall comply with regulations and rules organizing businesses in the Emirate, especially Commercial Companies Law No. (2) of 2015 as amended and Commercial Transactions Law No. (18) of 1993 as amended. The contract may not be in violation of public order or morals, apparently invalid, or intended for fraudulent purposes.
2.  the contract shall include the following data: a. Names of contractors, their nationalities and premises. b. Date of salec. Type of shop, number of commercial or professional licenses, name of establishment, and shop address. d. Aspects which parties agree to include in the sale. e. Price of both tangible and intangible elements separately and the part paid upon conclusion of the contract and the method of settling remaining amount. f. Agreements relating to the contracts and pledges in connection with the shop, if anyg. Agreements relating to the sellers right to revoke or terminate contracts, or concession rights, if any
3.  the contract shall include the following clause: <br>The title of the commercial shop may not be transferred among contractors or to third parties unless from the date of registration of sale in the Commercial Registry and publishing a brief thereon in two dailies issued in Arabic within the State, with one week interval between the publications of both declarations. The publication shall be made after the period set for accepting objections against the sale.
4.  Please note that you might be charged extra fee difference

Documents to be attached electronically and original copies to be brought on attendance

1.   The Original proof of personal identification and a copy thereof shall be presented. This shall include passport, national ID card, or any other document issued by official body in the UAE.
2.   Original documents establishing the identity of attendee and his competence to act in signing.
3.  Initial approval from competent body, license and the relevant previously concluded contracts.
4.  Licence issued from competent authorities

Click here to register an online application of :Agreement of selling a commercial shop