Maha Bin Hendi

In accordance with the new FDI law in UAE - Dubai, what is the (steps/cost/requirements/time frame) to remove the 51% shares local sponsor holder, and make it 100% foreign ownership? Additional info for accurate answer: - The foreign owner and the foreign manager are out of the UAE, and the only physical - available person is the PRO person. - The local sponsor is a company with 4 partners, So, I wonder if ALL of the partners will be required to attend physically for the procedure of the 100% foreign ownership transfer, or only the PRO and the POA person will be enough? - The concerned company is an LLC Japanese company for water equipment trading, so it will be under the UAE cabinet positive list, right?

Dear Lawyer, We are 18 landowners 200 yards each entered into a development agreement with a builder on 2/2014. Then conditions are that the builder in his share of 50:50 can construct flats and sell. With a GPA fraudulently obtained, 18 months time with a grace period of 6 months to complete and handover fully furnished the flats. In case of delay, a rent of 6000 per month and 3 lakhs refundable deposit are to be paid to each landowner. The builder neither handed over the flats (60% built) nor paying rent or deposit of 3 lakhs. Electricity meters are fixed on our name and we are all paying minimum charges. The builder is not responding to our phone calls nor attending meetings whenever called for. The builder sold his share of flats. Please advise me the best. L.

Dear Lawyer, We are 18 landowners 200 yards each entered into a development agreement with a builder on 2/2014. Then conditions are that the builder in his share of 50:50 can construct flats and sell. With a GPA fraudulently obtained, 18 months time with a grace period of 6 months to complete and handover fully furnished the flats. In case of delay, a rent of 6000 per month and 3 lakhs refundable deposit are to be paid to each landowner. The builder neither handed over the flats (60% built) nor paying rent or deposit of 3 lakhs. Electricity meters are fixed on our name and we are all paying minimum charges. The builder is not responding to our phone calls nor attending meetings whenever called for. The builder sold his share of flats. Please advise me the best. L.

Dear Lawyer, We are 18 landowners 200 yards each entered into a development agreement with a builder on 2/2014. Then conditions are that the builder in his share of 50:50 can construct flats and sell. With a GPA fraudulently obtained, 18 months time with a grace period of 6 months to complete and handover fully furnished the flats. In case of delay, a rent of 6000 per month and 3 lakhs refundable deposit are to be paid to each landowner. The builder neither handed over the flats (60% built) nor paying rent or deposit of 3 lakhs. Electricity meters are fixed on our name and we are all paying minimum charges. The builder is not responding to our phone calls nor attending meetings whenever called for. The builder sold his share of flats. Please advise me the best. L.

Dear Lawyer, We are 18 landowners 200 yards each entered into a development agreement with a builder on 2/2014. Then conditions are that the builder in his share of 50:50 can construct flats and sell. With a GPA fraudulently obtained, 18 months time with a grace period of 6 months to complete and handover fully furnished the flats. In case of delay, a rent of 6000 per month and 3 lakhs refundable deposit are to be paid to each landowner. The builder neither handed over the flats (60% built) nor paying rent or deposit of 3 lakhs. Electricity meters are fixed on our name and we are all paying minimum charges. The builder is not responding to our phone calls nor attending meetings whenever called for. The builder sold his share of flats. Please advise me the best. L.