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Ajman, UAE

Removing a partner from a company in a Freezone and cancellation of his visa

I have a company in Ajman Freezone. We are 2 investors (myself and a business partner).

I wish to remove myself as an investor and cancel my visa. The trade license expired recently and there is a small outstanding amount to be cleared as well.

How can I proceed with the cancellation of my visa?

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Al Safar & Partners Advocates & Legal Consultants
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22 Mar 2021, 13:39

Dear Client,

Good day!

You cannot remove yourself as a partner unless the memorandum is changed to a sole establishment or you sell your shares to the partner.

You should prepare the MOA accordingly in the free zone and transfer the shares, then, you can do that and it will be signed by both partners.

After that, you can go cancel the visa and complete the procedure.

For further assistance, please feel free to contact us via phone or email.

Thank you!

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