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: My brother and I are partners of a company in Dubai. We filed a case against our third partner who was the owner of the established company in 2014 and his wife was a partner. He cheated us by showing a fake business/profit proposal. He made us partners also in October 2017. We were never involved in the business and we are Abudhabi residents. We filed a case in Feb 2018 when we realized he did not invest our money as our agreement. From then on, he is missing. Now our partner visas’ have expired (Nov 14th) and he is still absconding. We have a judgment against him and ongoing execution for our case. He also has a travel ban and an arrest warrant. We need to cancel the visas so that we can apply for another new visa. I am in the UAE and my brother is outside UAE. It has been three months now. Need sincere assistance!

Q: Hi, I am starting an accounting and bookkeeping company in Dubai as a professional license. I would like to understand the impact that will be on the company if I die as the individual owner of the company. Alternatively, I could register the company to include a 10% partner with me. So please advise what will be the impact on the company in case I or my partner died. Kindly note that my question is about the impact of my death on my company, not about my estate. I want to know if the company's operations will be impacted and if yes, then how can that be protected?

Q: Hi, I established a company in Sharjah Hamriah Free Zone in April 2012. My company's trade license expired eleven years ago (2013), and I never renewed it. I left the UAE before my visa expired (July 2015). Do I still need to liquidate the company?

Companies can be wound up by Voluntary Liquidation. This shall proceed as initiated by shareholders or creditors of a company by passing a valid shareholder’s resolution. When a company’s financial mechanism fails, and the company is in financial distress and/ or becomes insolvent whereby it is unable to pay off its debts, the company may file a petition for winding up to the court.

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 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.