Q: I'm going to buy an existing business in the UAE (mainland company). Please advice: 1. How can I check whether the company has any existing liabilities in UAE banks? 2. What kind of documents shall I request from the company owner as a confirmation that he paid all his debts to the local agent? 3. Would I request any proof from the local agent? Thank you!

Q: Buying a small business in Abu Dhabi. What are the legal requirements? What are the items on a checklist that one should consider before investing? What are the pitfalls of buying an existing business?

Q: Hi, I am planning to buy an existing active company, 13 yrs old, but I foresee legal issues/hidden liabilities later. How can I best safeguard myself? What measures need to be taken before the transfer? Please advice!

Q: I had purchased a company from someone and had taken his personal loan on my shoulder but when I realized that there are a lot of other depths such as company cheques, I asked the old owner to return my payment. He agreed to pay half and asked me to sell the company under another person's name. The 3rd person who took the company from me had agreed that he will take the personal loan to his shoulder but after taking the company, he didn’t approach the bank to change the signatory and he run away because the company bank account still under my name (only as per bank record) but legally, the company is not under my name at all. To avoid issues, I keep paying my monthly installment which is above 6500 AED directly to the loan agreement number. I can see that the court has blocked my x- company account and informed the bank to deduct above 320k in case it is credited from other sources to that account. My question is should I complete the loan? If yes, after completing the loan, can I close the account by showing the new memorandum?

Q: We are a holding company and we would like to buy 60% value of the other company, which documents we will be referring to?

This article intends to give a brief idea of corporate crime, how it happens in the corporate world, the relevance of choosing the right legal action and mechanism.

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.

The provisions of this Decree by Law amend the Federal Law No. (18) of 1993 by replacing Clause (4) of Article (379) as well as Articles (600), (617), (641), (642), (643), (644), and adding new articles numbered (635) Bis, (641) Bis (1), (641) Bis (2), (641) Bis (3), (641) Bis (4), (643) Bis (1), (643) Bis (2), (644) Bis (1) and (644) Bis (2). The Decree-Law also repeals Articles (401), (402) and (403) of the Federal Law No. (3) of 1987.