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Deed Of Gift Of Shares

Deed Of Gift Of Shares Template for United Arab Emirates

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Key Requirements PROMPT example:

Deed Of Gift Of Shares

"I need a Deed of Gift of Shares to transfer 5,000 ordinary shares in my family-owned manufacturing company to my eldest son, effective from March 15, 2025, as part of our succession planning in compliance with UAE law."

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Document background
A Deed of Gift of Shares is commonly used in the United Arab Emirates for facilitating share transfers within family businesses, implementing succession planning, or restructuring corporate ownership without monetary consideration. This document type is particularly relevant when shareholders wish to transfer their shares gratuitously, often in family business contexts or for tax planning purposes. The deed must comply with UAE Federal Law No. 32 of 2021 (Companies Law), the UAE Civil Code, and where applicable, free zone regulations. It typically includes detailed information about the shares being transferred, warranties from the donor, and any required corporate or regulatory approvals. The document's formality as a deed provides additional legal certainty and helps ensure the transfer's enforceability under UAE law. It's essential to consider both civil law requirements for gifts (Hiba) and corporate law requirements for share transfers when preparing and executing this document.
Suggested Sections

1. Parties: Identifies and defines the Donor (person giving the shares) and Donee (person receiving the shares), including their full legal names and addresses

2. Background: Sets out the context of the gift, including details of the company whose shares are being transferred and the Donor's current ownership

3. Definitions and Interpretation: Defines key terms used in the deed and establishes interpretation principles

4. Gift: Details the specific shares being gifted, including number, class, and nominal value

5. Completion: Specifies when and how the transfer will take place, including delivery of share certificates and execution of transfer forms

6. Donor's Warranties: Warranties from the Donor regarding ownership, right to transfer, and absence of encumbrances on the shares

7. Donor's Covenants: Undertakings by the Donor to facilitate the transfer and not to revoke the gift

8. Tax and Costs: Addresses responsibility for any taxes, stamp duty, or costs associated with the transfer

9. Notices: Details how formal communications between parties should be made

10. Governing Law and Jurisdiction: Specifies UAE law as governing law and establishes jurisdiction for disputes

11. Execution: Formal execution blocks for parties to sign as a deed

Optional Sections

1. Consideration: Required only if there is nominal consideration being paid to support the deed structure

2. Company Consent: Include when the company's articles require consent for share transfers or for private companies with transfer restrictions

3. Regulatory Approvals: Required for regulated entities or when shares are in regulated sectors

4. Anti-Money Laundering Compliance: Include for high-value transfers or when required by applicable regulations

5. Shareholder Rights: Include when specific shareholder rights are attached to the shares being transferred

6. Confidentiality: Include when parties wish to keep the gift private

7. Power of Attorney: Include when the Donor grants power to execute additional documents for completing the transfer

Suggested Schedules

1. Share Details: Detailed description of the shares being transferred, including share certificate numbers and distinctive numbers

2. Share Transfer Form: Standard form for transfer of shares as required by UAE Companies Law

3. Company Information: Details of the company including registration number, registered office, and current shareholding structure

4. Required Consents: Copies of any required consents from the company, other shareholders, or regulatory bodies

5. Existing Share Certificates: Copies of current share certificates to be surrendered

6. Board Resolution: Copy of board resolution approving the share transfer (if required)

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Linkedin in social icon imageX social icon image
alex.den.21@genieai.co
Relevant Industries

Family Business

Private Equity

Professional Services

Financial Services

Real Estate

Manufacturing

Trading

Retail

Technology

Healthcare

Education

Hospitality

Relevant Teams

Legal

Corporate Secretarial

Compliance

Corporate Governance

Board Secretariat

Executive Leadership

Shareholder Relations

Family Office

Corporate Affairs

Wealth Management

Relevant Roles

Company Secretary

Legal Counsel

Corporate Lawyer

Managing Director

Chief Executive Officer

Chief Legal Officer

Compliance Officer

Board Director

General Counsel

Corporate Governance Officer

Family Office Manager

Wealth Manager

Business Owner

Shareholder Relations Manager

Industries
UAE Federal Law No. 32 of 2021 (Companies Law): Governs corporate matters including share transfers, ownership restrictions, and procedural requirements for transferring company shares
UAE Civil Code (Federal Law No. 5 of 1985): Contains provisions regarding gifts (Hiba), contractual obligations, and general principles of property transfer
UAE Commercial Transactions Law (Federal Law No. 18 of 1993): Regulates commercial transactions and business dealings, including aspects of share transfers in commercial contexts
UAE Securities and Commodities Authority (SCA) Regulations: Relevant if the shares are in a public company, governing the transfer of listed securities
UAE Personal Status Law (Federal Law No. 28 of 2005): Contains provisions relevant to gifts and their impact on inheritance matters, particularly important in family contexts
UAE Central Bank Regulations: May be relevant if the shares are in a financial institution or if the transaction requires specific financial compliance
UAE Anti-Money Laundering Laws: Relevant for compliance requirements in substantial share transfers and ensuring the gift is not a means of circumventing AML regulations
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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