Document background
The Sales Of Shares Agreement is a crucial document used in UAE corporate transactions when transferring ownership of shares from one party to another. It is essential for both private and public company transactions, though different regulations may apply depending on the company type. The agreement must comply with UAE Federal Law No. 32 of 2021 and other relevant regulations, including foreign ownership restrictions where applicable. This document typically includes detailed provisions on purchase price, payment mechanisms, warranties, indemnities, conditions precedent, and completion requirements. It's particularly important in the UAE context where specific formalities must be observed for share transfers, including potential requirements for notarization and registration with relevant authorities.
