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Can the investor of bankrupt company start a new company?

Hi,

What are the consequences on the investor for leaving an LLC going bankrupt in the UAE?

- Can the non-resident investor start a new business in the UAE?

- Any issues in obtaining a new investor visa? Others?

Liabilities are:

- Bounced cheques for property rental with landlord sending a legal notice.

- Other services (mobile phone, electricity, water, sewerage... etc.).

Thanks

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Mohammed Bani Hashem Advocates & Legal Consultants

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22 Nov 2020, 16:54

Dear Questioner,

You have to clear your side before leaving the company. If any signed cheque is there, please get it back.

If you want to start a new business in the UAE you can start, but 51% of the shares will be with a local Emirati.

If you need any assistance kindly contact us on the phone to have a discussion.

Thank you.

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