Changing the company name is one of the significant procedures for rebranding, enlarging the scope of business operations, changing the ownership structure, or choosing the name which will better suit the new position on the market. However, there should be no problem with using the new company name in the invoices, agreements or promotional materials without making any changes in the official documentation of the company.
To Change Company Name in UAE, the requirements of the relevant authority should be met, and the name should be approved and updated along with other necessary documents. This guide will provide you with all the necessary information regarding changing the company name in UAE..
Why Change Your Company Name in UAE?
Companies could choose to alter their registered names due to various reasons. These reasons include the rebranding of the company, a shift in business orientation, or even increasing the visibility of the firm among its clients.
Common reasons include:
- Rebranding an existing business
- Changing the company’s market positioning
- Removing an outdated or unsuitable name
- Reflecting a change in ownership or business structure
- Expanding into new markets
- Choosing a more relevant or memorable trade name
- Resolving branding or naming conflicts
Before applying, however, the proposed name should meet the naming rules of the relevant UAE licensing authority.
UAE Company Name Change Requirements
Requirements may differ depending on whether the company is licensed in the mainland or the free zone. However, there are some general requirements that must be met before approval of the name can take place.
Choose an Available Company Name
The name will normally need to be unique and available. The company will not accept a name that is already registered or reserved by some other firm.
It is advisable to make sure that the name is available before filling out other sections of the application form.
Follow UAE Naming Rules
The name of the company you recommend must conform to the regulations of the applicable licensing authority. There are some words and phrases, some references to the government, and some activities which have certain names and which are restricted or even prohibited.
Obtain Name Approval
The new name must always be presented to the proper authority for approval. In some cases, you have to reserve the new trade name before you amend your name.
Update Corporate Documents
After approval of the company name, there may be a requirement for the MOA, Articles of Association, licenses, certifications, and other company documents to be amended.
Documents Required to Change Company Name in UAE
Documents Needed for Changing the Name of the Company in UAE vary depending on the legal structure of the company.
Some documents that are usually asked for are:
- Existing trade license
- New trade name approval or reservation
- Passport copies of shareholders or authorized representatives
- Emirates ID copies, where applicable
- Updated Memorandum of Association
- Shareholder or board resolution approving the change
- Application form submitted to the relevant authority
- Other documents requested by the licensing authority
Free zones could have different processes and structures, and therefore it is necessary to verify the requirements through the appropriate entity before filing an application.
UAE Company Name Change Process
UAE Company Name Change Procedure consists of certain steps in general. Though it may vary for mainland and free zone companies, it is quite simple as a whole.
Step 1: Select a New Company Name
Step one involves selecting an appropriate name that suits your business and conforms to UAE laws concerning the name selection process.
It is good to have alternatives ready since your preferred name might already be taken or fails to conform to the authority’s set standards.
Step 2: Check Name Availability
Send the name to the concerned licensing authority for availability.
If the name is found to be available and meets all the required criteria, then it may be proceeded with for the amendment process.
Step 3: Submit the Name Change Application
Once approval is granted, the necessary documentation can be provided along with the application.
The application will have to be made through an online portal of the government/zone authority depending on the location of registration of the business.
Step 4: Approve the Corporate Amendment
The firm could ask for a shareholder vote and/or a board resolution to approve the name change.
In some cases, a modification in the MOA or other constitution documents may be necessary.
Step 5: Pay the Applicable Fees
Fees will be charged by either the government or the free zone for the registration process, modification, preparation of documents, and issuance of the revised license. The fees will depend on the particularities of each business.
Step 6: Receive the Updated License
After getting approval for the application and payment of the necessary fees, the authority is now able to issue a revised trade/business license with the new name of the business.
This is a very vital aspect which confirms the amendment of the official name of the business.
Mainland vs Free Zone Company Name Change
The process of renaming the company will depend upon the jurisdiction in which the company is incorporated.
If the company is registered as a mainland company, then the renaming process will be dealt with by the concerned emirate’s economic or licensing authority.
In case of a free zone company, the process will be carried out by the concerned free zone authority. Each free zone will have its own form of application, documents required, fee structure, and process of approval.
Hence, it is advisable to know the authority that will deal with the process of naming the company.
What Happens After Changing the Company Name?
Getting the name changed to the registered name is just one step in the procedure. It is also essential that you change the details of your company where it is needed because of the old name.
This can be done as per:
- Bank account records
- Accounting and invoicing systems
- VAT and tax-related records
- Corporate contracts
- Supplier agreements
- Customer documents
- Business website
- Email signatures
- Social media profiles
- Marketing materials
- Company stationery
- Employee documents
- Payment platforms
- Insurance records
Failure to change the old name in official business papers following the amendment will bring about some complications.
Does Changing the Company Name Change the Company?
For the majority of cases, however, a name change will not equate to a change of a company into another company from a legal point of view. The implications of a name change will depend on the structure of the particular company and how the name change is performed.
In those situations where a particular company does not change as an entity, then its obligations, debts, and contracts will not be dissolved just because the name is changed.
Important Tips Before You Change Business Name in UAE
The following issues are worth bearing in mind before changing the Business Name in UAE:
First check the availability: You should not formulate a whole brand concept around a name that hasn’t been approved for registration yet.
Take into consideration the brand: Make sure that the suggested name would be right for you.
Review your documents:Find out where the old name of the company appears to make changes easily.
Check trademark considerations: The fact that your product has been approved for trade name use doesn’t guarantee its trademark protection.
Plan the transition: Make sure to inform your clients, suppliers, bankers, employees, and everybody else concerned about this move.
Maintain Evidence: Maintain file copies of all previous and current versions of the licenses, permission, resolution, and amendment to the corporate documents.
How Much Does It Cost to Change a Company Name in UAE?
It depends on various factors as to how much it will cost to change the business name, for example, the jurisdiction of the business, its structure, licensing, and paperwork.
Potential costs can include:
- Trade name reservation fees
- License amendment fees
- Corporate document amendment fees
- Administrative or service charges
- Professional assistance fees, if applicable
Since the fees and process may vary, it is recommended that the enterprise check the present fees with the appropriate authority on the mainland or free zone.
How Long Does a Company Name Change Take?
The process will depend on the licensing agency, the availability of the desired name, the documents needed to be submitted, and whether other approvals are needed.
Simple application processes may take a short time, especially when the documents are all completed. The delay in time might arise if the name is declined or if the documents are not prepared.
Preparation of the required documents might simplify the whole process.
When Should You Get Professional Assistance?
Whereas some amendments can be done straightaway by the concerned authority, it will be helpful to seek professional advice in case of documents needed from more than one source like corporations, stockholders, free zones, and others.
A business setup consultant can help you get an idea of the relevant requirements, prepare your paperwork, apply, and avoid any unnecessary mistakes in administration.
In case you require help regarding company amendments and other business requirements, we at E-Startup have Business Setup in UAE Services that can help you with your UAE business requirements.
Conclusion
Changing a registered company name in the UAE goes beyond just choosing a new brand name. There is the need to verify its availability, adhere to naming guidelines, get approved, complete the necessary documentation, amend corporate information, and make sure the new company name appears on the relevant business documents.
Having knowledge of the UAE Company Name Change Requirements and the process involved will enable you to go through the process in an efficient manner and without any problems. In case you are not certain of the documents needed or the amendment process, then you could benefit from seeking professional guidance.
FAQs
Can I change my company name in UAE?
Yes. However, a company incorporated in the United Arab Emirates can possibly rename itself, provided that the name is available and qualifies for the standards set by the licensing body.
What documents are required to change a company name in UAE?
Some common documents include the current trade license, new trade name application, resolution from the shareholders or board of directors, identification documents, and amended corporate documents.
Does changing the company name require a new trade license?
Generally, it would be necessary for the existing license to be either modified or extended so that the new name could be included. Depending on the specific licensing authority, a completely new license could be required.
Can I change my company name without changing the business?
In many situations, yes. This is because an amendment to a company’s name can be effected while the business is still running as long as everything else remains the same.
