UAE Reduced Lockdown for Share Transfers
The Ministry of Economy and Tourism in the UAE has approved amendments to the restriction period for transferring ownership of private joint-stock companies' shares, aimed at enhancing flexibility. The period has been reduced to 7 months when quarterly reviewed financial statements are published, 6 months for specialized investor categories, and 5 months for employee shares within incentive programs. Additionally, exceptions to the restriction have been permitted in cases of public offerings, buy-back rights, death, and transfers between shareholders, with the goal of facilitating share transfers while maintaining transparency and governance standards. These amendments are intended to support market fluidity and minimize potential risks from early speculation or ill-considered exiting by shareholders.
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