Transformation

Companies incorporated under provisions of Company law in a specific form may be changed to another type, after satisfying the legal requirements under Company Law. (Company Law, Part Nine, Chapters 1 & 2, Arts. 273-280, Part Ten, Chapters 1 & 2, Arts. 281-312)

The change is made by a decision or resolution adopted in accordance with the procedures stated in the amendment of the company's Memorandum and Articles of Association. Moreover, the company must complete the incorporation formalities stipulated by DED (Dubai Economic Department) for the new company, and the change of the company type must be recorded in the Commercial Register with the valuation statement. Therefore, a statement concerning the assets and liabilities of the company and the estimated value must be attached to the decision to change the type of company.