Questions & Answers
How to close an LLC company while one of the partners is missing?
Dear Sir,
We would like to wind up our business. It is an LLC company based in Sharjah, UAE. One of our partners is missing and we are unable to trace out her.
There are 3 partners excluding the UAE national sponsor. Me, my wife & one more lady. She was always a sleeping partner as I am the managing director & authorized signatory.
Now since we are unable to run the business profitably, we would like to close down the business. The trade license expires in May 2020 and we don’t want to renew it anymore.
We have no financial obligations to anyone at the moment. We have given 30 days notice to our employees.
Kindly advise us to proceed further!
Dear Questioner,
From your message I understood that your concern is if you can liquidate the company without having that partner approval/signature.
Please send me your license copy via email and explain to me the structure of the company - the percentage owned by each shareholder - so I can advise you accordingly.
Do you have any POA issued by that shareholder under your name or under any other shareholder's name?
I am looking forward to your reply.
Thank you!
Best Regards,
Raluca Gatina
