Questions & Answers
Procedures to exit partnership in Dubai companies and get your share
I wish to part ways with my business partner in a free company in Dubai. The business is profitable. There is no breach of law.
We just do work together and I want to offer my partner an exit from the LLC. I am the appointed business director. I manage the business personally.
On grounds of incompetence and personal differences, I wish to offer her a sum and get the partnership solved. What are my options and how does one evaluate the share to be dissolved fairly.
Like is there a formula such as a multiple of net profits to be offered?
Thank you!
Hi there,
You can get the evaluation of your shares after a proper audit of the books and as per mutual understanding/MOU.
Your partner can take the compensation and exit from the business. Everything should be well documented with proper contracts to cover each and every bit and part of the whole process.
Thanks!
Sudhanshu Singh
