If your company has several founders and you need to make changes to their composition, the procedure will depend on several factors.
→ Physical presence. The ideal scenario is for all founders to be present in person when submitting the application. This greatly simplifies the process and reduces the time required to process the documents. Each founder must provide their original or certified copies of identity documents.
→ Alternative option: power of attorney and online verification. If personal presence is not possible, UAE law provides an alternative option – the use of notarized powers of attorney. In this case, an authorized person acting on the basis of a power of attorney represents the interests of the founders and submits the documents. An important aspect is the confirmation of the identity of the participants in the process, which can be carried out through online platforms using modern means of identification.

If it is necessary to replace the CEO of a company who is not a founder, the procedure is much simpler. All that is required is to submit an application to the relevant state authorities, indicating the details of the new CEO and the reasons for the replacement. The participation of the former CEO in this process is not required.

The process involves providing a complete set of documents, including:
→ Certified copies of passports.
→ Documents confirming the legality of financial situation and the source of funds for investment (depending on the requirements of the specific emirate).
→ Documents confirming the absence of a criminal record.
→ A valid company license is required to register the changes.

The application can be submitted both online and offline through the relevant government agencies. The standard processing time is one week. The choice of application method depends on the specific emirate and type of organization. Online submission often reduces the processing time, but requires an electronic signature and access to the relevant online platforms. Before making any changes to the company's structure, it is important to ensure that the organization has no outstanding payments and that the license is valid. 
 
It is worth bearing in mind that if the composition of shareholders changes by more than 50%, the bank has the right to close the corporate account. After making changes to the documents, it will be possible to reapply to open an account.