Questions & Answers
Questions & Answers
7 available 7 • View allWho is liable for debts of the deceased?
Q: My deceased father has a court mandated outstanding loan payment of roughly 860,000 dirhams given in the name of his company in which he was a partner.
Will my mother, my siblings or me have to pay this loan?
Apr 10, 2017
1948
The procedures required for the cancellation of a company and visas
Q: I am a partner in an LLC registered in Dubai, whose license was expired in Nov 2017.
I was a passive investor stationed in India and the company was managed my senior partner and MD (Managing director) of the company who was stationed in Dubai.
The company was not managed well, the licenses were not renewed and the business activities did not take place. My last visit was in May 2017.
The MD of the company is still in Dubai on an earlier visa but didn't get in touch with me and he's not reachable.
Now, I want to start a new venture in any free zone on an individual basis. How can I cancel the earlier visa and get a new investor visa in the free zone?
Is it necessary to liquidate the old company in order to cancel the visa? Is it possible for me to cancel the visa on an individual basis and apply for new company formation?
Please guide me.
Jan 21, 2018
13241
Protection of investment in LLC business
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.
Jul 4, 2017
1118
Holding profits for inherited shares of the father in a company
Q: Hi Hari
My name is Ahmed A., I reside in Canada with my family.
8 years ago, my father passed away in Dubai. He has an Auto garage with shares with a local partner and my two uncles, with my father and the local partner having the majority of share at 24% and 51%.
Soon after my dad passed away, we got our inheritance papers made at Dubai Courts. It's been 8 years since we got even a penny from my uncles. Now, they are pushing us to sell our shares below the market value.
They are being very hostile towards us, threatening us if we do not sell, they can have the trade license terminated. I am a Chef here in Kingston, Ontario.
It is very hard for me to drop everything and chase matters in Dubai. Please advise if the threats are true and I should sell my shares.
If you can email, it will be greatly helpful.
Thank you
Ahmed A.
Feb 12, 2019
493
How to change the company status when the Emirati partner passes away?
Q: Our local Emirati partner who owns 51% passed away 2 years back.
He didn't invest any money however we pay every year sponsoring fees.
How to get rid of this issue?
Feb 10, 2022
265
My father was LLC 49% partner in Sharjah and passed away. How to claim his shares?
Q: My father was a 49% partner in a Sharjah LLC and passed away in Pakistan.
Now I came here. What should I do next and how can I check his bank account?
Mar 16, 2022
337
Managing shares of a deceased ex-pat director in an LLC: What's the process?
Q: Dear Sir/Madam,
Recently, one of our ex-pat directors passed away. The company is an LLC, with shares split as follows: 51% owned by a local Emirati, 25% owned by an ex-pat director, and 24% owned by another ex-pat director.
We need to determine how to manage the shares of the deceased partner since he has no family here and his family back in his hometown wants nothing to do with the business and is uncontactable.
What is the process for retrieving the shares and continuing our operations?
Mar 22, 2023
98
Legal blog
6 available 6 • View allImportance of Corporate Governance and its Basic Principles
It is the first article in a series of articles written by the author to give a better insight to the readers about the corporate governance practices under the best practice principles and the UAE legal system through innovative suggestions of its implementation for your organisation. Next series will be on the UAE regulatory framework on corporate governance.
Jun 26, 2019
3110
The UAE Regulatory Framework on Corporate Governance
It is the second article in a series of articles written by the author to give a better insight to the readers about the corporate governance practices under the best practice principles and UAE legal system through innovative suggestions of its implementation for your organisation. Next series will be on Corporate Governance for Non-listed companies.
Jul 4, 2019
2525
Corporate Governance for Non-Listed Companies
This is the last article in series of articles written by the author to give better insight to the readers about the corporate governance practices under the best practice principles and the UAE legal system through innovative suggestions of its implementation for your organisation.
Jul 23, 2019
955
Economic Substance Law in the UAE: Ahead with Compliance and Governance
Tax evasion is a serious offence on the local and international levels that had to be controlled and regulated with new laws, in an international effort to combat this violation. As a part of the international community, the UAE had issued a law (Cabinet of Ministers Resolution No. 31 of 2019) in the same direction requiring all in-scope UAE entities to have demonstrable economic substance.
Jul 24, 2019
872
Doctrine of Economic Substance in the UAE
The introduction of the Doctrine in the UAE brings the UAE in line with other jurisdictions that have recently issued economic substance legislation and affirms the UAE’s commitment to addressing concerns around the shifting of profits derived from certain mobile business activities to “no or nominal tax jurisdictions” without corresponding local economic activities.
Feb 4, 2020
1720
What Can I Do If I Have a Dispute With My Joint Shareholder?
An interview-format article covering the topic of shareholder disputes in the UAE and pre-emptive measure to be considered. This is from the legal podcast of lawyer Ludmila Yamalova, the founder of Lawgical with LYLAW.
Mar 24, 2020
5900
Laws & Regulations
2 available 2 • View allFederal Law No. (2) of 2015 On Commercial Companies
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.
Mar 25, 2015
29538
Federal Law No. (5) of 1985 On the Civil Transactions Law of the United Arab Emirates
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.
Dec 15, 1985
148422
Premium
Other answers by
342 342 answers •
View allHow can I vacate my tenant if the rental agreement ends before the eviction notice deadline?
My Dubai tenant's rental agreement is ending by the end of September 2024 and the completion of 12 months of legally served Eviction Notice is the end of December 2024.
I have two questions:
(a) Can I send a rent increase notice 3 months before as the rent has increased as per the RERA rent calculator?
(b) The second question is, do I have to renew the rental agreement for 3 months (until December 2024) or not?
Thank you.
May 1, 2024
278
How can I reach a settlement with the bank for a mortgage of a jointly owned property?
I have a jointly owned property in Abu Dhabi. The mortgage was defaulted on as I had to leave the property with my children following an assault by my ex-husband. He left the country in 2018 and never paid the mortgage.
As I was in the country, the bank filed a criminal case against me, and I was sentenced to 3 years. I won the appeal against the bank and then filed another criminal case a few months later in Dubai. Again, I won and paid a fine.
In 2019, the bank started a civil case against me and my ex-husband to have the property repossessed. However, at the time of the purchase of the property, there were no Title Deeds, the bank requires this.
I cannot give them the Title Deeds to sell the property and pay back the amount owed to them as my ex-husband refuses to provide a POA. The bank has filed another criminal case against me only for our jointly owned property.
I wish to resolve this and pay off the bank and receive any money left from the sale. How can I resolve this issue of the Title Deeds?
Oct 4, 2022
300
The procedures for filing for divorce on mutual consent
Dear sir/madam,
I am separated from my wife due to compatibility reasons. We got married in the Indian consulate in Dubai on December, 23rd.
We would like to file a divorce on mutual consent as soon as possible. May I get some advice here on the procedures?
Sep 13, 2022
687
My previous employer failed to pay my gratuity. Can I file a case 6 months after resignation?
My previous employer failed to pay my gratuity six months past now since I resigned, Is it possible to file a case against him after a 6 months period?
May 31, 2022
1283
Can a real estate agency hold a percentage of a property sale until transfer is done?
A real estate agency has signed an MOU stating that a 10% security deposit from the buyer and the seller will be kept in the real estate agency and will be released upon transferring the property.
The transfer of the property was blocked due to the court order.
According to my colleagues, the real estate agency is not a trustee and they are not allowed to have taken my security check in the first place, is this correct?
Jun 28, 2021
1277
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