Questions & Answers
Questions & Answers
3 available 3 • View allThe impact of a company shareholder on closure decision by majority


0
Q: Hi,
I am a partner of a Dubai based (mainland) company. Due to the financial restraints, the investor (shareholder) has decided to close the company.
Now, I want to know if they can do this without my consent as the sponsor 51% and partner 26% have decided this. My share is 24%.



Jun 27, 2019
744
Liquidation of an LLC company when a partner is not approving
3
Q: One of the directors with a 16% share doesn't want to close the company.
The Emirati with 51% and 2 other directors with 17% & 16% want to close the LLC.
The license has expired 15 days ago. What to do now?

Apr 8, 2019
1529
Liquidation of a company for maneuvering of the managing partner
3
Q: My name is W. S., I am a partner in a hospitality services company with 33% in Dubai.
By delaying the operation, The managing partner is exhausting the capital of the company and driving the company to bankruptcy aiming to take it for himself.
I sent him a timely legal notice to close the company and he did not react. I would like to know the cost of placing a lawsuit for “liquidation, compensation and refund of the paid amount in the company capital plus the interest“ against him along with the lawyer professional fees for this matter.
I would like to be connected with a lawyer who is experienced in similar cases and who can handle this case.

Dec 22, 2018
1719
Legal blog
4 available 4 • View all100% Foreign Ownership of Companies in the UAE 12
The UAE government has announced important changes to the federal Commercial Companies Law, the most significant is related to the foreign ownership of mainland companies. This will grant foreign investors the full ownership of share capital in companies carrying out certain activities specified to that effect by the competent authorities. This means that foreign investors’ shares will not be limited anymore to a maximum of 49% like before, but can be up to 100% instead.
Jun 13, 2021
3116
What Can I Do If I Have a Dispute With My Joint Shareholder? 5
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
5903
Recent Amendments of the Laws in the UAE 4
An interview-format article covering the topic of the new amendments to the laws in the UAE. This is from the legal podcast of lawyer Ludmila Yamalova, the founder of Lawgical with LYLAW.
Feb 3, 2021
3077
Online POA and Other Notary Public Services in the UAE 28
With the introduction of the new procedures for obtaining a power of attorney (POA) remotely in the UAE, after it was mandatory to appear in person in front of the notary public as a global rule to ensure the identity and intention of the person requesting a POA, we put between your hands this brief guide for how you get it done.
Jun 8, 2021
19203
Laws & Regulations
1 available 1 • View allFederal Law No. (2) of 2015 On Commercial Companies 15
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
29549

Other answers by
313 313 answers •
View allCan the landlord request the tenant to pay the chiller in the middle of the contract? 0
I live in Dubai Marina, and the landlord claimed that according to new Dubai Land regulations, the chiller now has to be paid by the person occupying the apartment.
Even though my contract says that the landlord should pay the chiller, they want to implement this mid-contract.
I understand that the terms upon renewal will be renegotiated, but on what grounds can they implement the change mid-contract?
Does a new DLD regulation precede a tenancy contract? Moreover, I am receiving a disconnection notice from the chiller company due to non-payment.
What can I do if this happens?
Please advise.
Mar 23, 2022
1591
Can I travel with a non-paid telecom bill in the UAE if my visa is canceled? 0
Can I travel with a non-paid telecom bill in the UAE if my visa is canceled?
Feb 16, 2023
730
Does the new property owner have to sign a new contract with the tenant? 0
Hi,
I'm a new landlord of the property which is already rented.
Kindly advise, do we have to sign a new tenancy contract with the tenant for the remaining period? And who will pay the cost of Ejari?
Feb 16, 2023
2569
Cleaner's resignation with 30-day notice in incomplete contract 0
Hello,
Good afternoon!
My friend works as a cleaner for a cleaning company and she now wants to resign with a 30-day notice. However, she has not completed the two-year contract and has only served for 16 months.
Additionally, she has not taken any vacation leave. The sad part is that when she signed the offer letter, she did not receive a copy of it and only signed it.
I would be very grateful if you could let me know if she would have to pay or if her boss has the right to not accept the resignation if the notice period mentioned in the offer letter is more than a month.
Her boss has not provided her with any kind of proof that she can use in the future if anything happens.
Feb 13, 2023
563
The ownership of a code of a web application 0
Hello,
I represent a tech-based marketplace company registered in a Freezone, in the UAE.
This is in regards to the UAE's law regarding the ownership of code when there is no clause mentioned in the agreement. One of our products (web application) is being developed by an agency in the UAE.
While we do have agreements in place, there is no clause regarding ownership of code. In the situation mentioned above, I've heard that the ownership of code either goes to the author or the agency that employed the author. Is this true?
Your assistance and help would be of great help.
Sep 7, 2021
319
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