Q: Hi, I am currently having an issue due to 2 investment policies that were grossly and unethically mis-sold from a reputed international bank... I did not pursue this thru a court of law, but managed to get my complaint to the very top of the organization by the grace of God over several months of exchanges and dialogues. But since the dialogue has always been with a corporate and having no legal help, even though the bank has consented to return 75% of my loss at the further end of many months ...on the capital, I still feel that the bank is not being fair with me with what their stance is... And I badly need someone with a legal eyes to help me know if I am being again cheated & taken for a ride by the bank, when they should have minimum returned my capital and compensated me for the stress, strain and pressure that I had to endure over a 10 months period ...after raising my 1st complaint...

Q: I did partnership in LLC business with one Indian last year. Recently I asked him to return my investment as he was not giving any reward of my investment. He agreed to return it. But now he is absconding because he owes some amount to an old partner who filed a police case against him. What should I do now to protect my investment or to avoid further loss? My 2nd question is: which percentage of shares will apply in case of loss? Trade license shows 15% my shares.

Q: Hi, We are planning to buy a beauty salon and we have given the owner a deposit of AED 20k. After a week he asked for another AED 50k as he has dues that need to be settled with the landlord. He gave us a cheque for AED 50k which bounced because the account has been closed a long time back as per the bank. It’s been 49 days and the transfer is not done yet. Can we file a civil case and ask for moral damage as we lost a lot of money since the business is not operating yet? Can we still get our AED 70k that we had given to him?

Q: I invested in some shop with 40000, but the person ran away with that money.

Q: I have initiated a transfer of $150,000 in June 2020 through reputed exchange services in the UAE to my stockbroker in the USA, however, the transfer was rejected due to some administrative rule changes by the broker. It has now been over 2 months of continuous follow up with the exchange service company, yet my funds have not been returned, which is causing me obvious distress and considerable financial opportunity loss. I registered a complaint with the Central Bank, however, no feedback has been received to date!

Q: Hello, I am a resident of the UAE. I own 2 businesses; a Freezone company in Dubai for my consulting activities and an LLC in the USA for my commercial activities. So I have 2 business accounts, one in the UAE for my Freezone and one in the USA for my LLC. Do I have the right to transfer funds from my US LLC directly to my personal Emirati account? Will these funds be considered as salary or dividends? Do I have to produce documents? Thank you in advance!

Q: Dear all, My husband is a real estate agent who found a client who wants to exchange Chinese Yuan to USDT. He then found a friend's friend who runs an Over-The-Counter (OTC) exchange house that is not licensed in the UAE. They agreed on a referral fee for my husband if the transaction is successful. The client transferred the CNY to the OTC exchange house and sent a screenshot of the transaction. The OTC released the USDT to the client without checking if they had actually received the money. One day later, the OTC realized that they had not received the money and the client had disappeared. The OTC is now threatening my husband to bear the loss because he introduced the client to them. Can you tell me what the legal implications are for my husband? Many thanks!

The provisions of this law, promulgating UAE Civil Code, govern the civil transactions in the United Arab Emirates. The commercial transactions remain subject to the laws and regulations applicable in their regard.

This Law applies to merchants, as well as to all acts of commerce carried out in the UAE by any person even though he be not a trader. Commercial matters regarding which specific Federal laws are issued shall be subject to the provisions of such laws, and to the provisions hereof which do not contradict with said laws.