Q: We formed a company in Umm Al Quwain Free Zone in 2018 and the license expired in August. One of the investors in on the company visa (his visa is valid). We want advice on the following: 1. We want to close the current company. 2. Are all the partners/shareholders required to personally visit to complete the closure formalities? 3. Since its formation, the company has not conducted any activities. What will be its liabilities? 4. What's the process for cancellation?

Q: Hi. Kindly advise regarding: (1) Closing a professional civil company (management consultancy) in Dubai with 4 partners + 1 local agent. There are 4 partners (all family members) who are out of the UAE. 2 partners have investor visas & 2 have partner visas. 3 visas have expired during July-Sept 18 and 1 Investor visa expiring 17/11 as being out of the country for 6 months+. Online at www.gdrfa.ae on logging in, the 3 expired visas are showing 'Inactive'. Does it mean visas are automatically cancelled & they can come on visit OR visas have to be physically cancelled at the immigration dept? The company has no assets/liability. We want to close the company. The company's labour est card is already cancelled. (2) Effect of a partner's personal credit cards' liability on the company as a he is a partner. In the above company, 2 partners have credit card dues. Is there an impact on 2 aged partners coming back to the UAE if the banks file cases & secure order on attaching the defaulting partners share in above company? (There is no business/assets). Can 2 aged partners be asked to submit the company a/cs?

Q: I didn't renew my trade license for 2 years and it's expired. I need to vacate my company office for which I have a pending rent of 4 months. Can I give a notice to vacate the office to real estate immediately as we don't have a business and the income is zero? The rental agreement is not also renewed since May 2020. Kindly advice!

Q: My trade license expired and I couldn't renew it for the last two years because of a loss in my business. Can I cancel my license? What is the procedure for that? Please guide!

Over the years the UAE has become a centre of trade and commerce for the Middle East, thanks to its strategic location, excellent connectivity and extensive services to assist with all aspects of business. According to the World Bank's 2016 report, the UAE has ranked 31st in the global index of ease of doing business. This encourages more entrepreneurs to set up different kinds of business entities in the country.

The UAE continues to strive to modernize its laws and create more flexibility in meeting the needs and requirements of investors and businessmen and elevate its economy to the highest levels of growth and development.

The Emirate of Dubai has announced recently some government fee waivers as a part of its relentless pursuit to maintain an investor-friendly environment and keep providing incentives which you can rarely find anywhere else.

The provisions of this Law apply to the commercial companies established in the UAE and the foreign companies that have established in the UAE a base to conduct any activity therein or established a branch or representative office. The Law abrogates Federal Law No. (8) of 1984 Concerning Commercial Companies.