Questions & Answers
Questions & Answers
4 available 4 • View allThe best way to handle partners' shares in LLCs after death



3
Q: Good evening, Sir,
We have an LLC (under DED) with a UAE National 51%, one Belgian 25%, and an Indian 24%. The Belgian and Indian both are UAE residents and have their spouses also living in UAE as residents.
What will be the consequences if one of the Non-UAE partners died? What do you suggest as the best way to be prepared for this situation.
Your answer is already appreciated!




May 2, 2020
1734
The status of company shares after the death of the only owner

5
Q: What will happen to shares of a company after the only owner passes away?
It is a sole establishment.


Aug 5, 2020
1617
The impact of individual owner's death on company operations
0
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?

Aug 26, 2020
426
How to renew the license of a company if one of the owner's heirs refuse to give a POA?
0
Q: One of my friends is a company - FZE - died in Dubai. The Court issued its decision defining the legal heirs. My friend is the manager on the license.
Out of 4 legal heirs, only 3 have issued a POA to him to renew the trade license and reactivate the bank account, but one legal heir is refusing to issue a POA.
As a result, the company is suffering. What are the options/legal remedies available for my friend in this situation?
Please advise.

Jun 23, 2022
183
Legal blog
3 available 3 • View allOnline 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
19182
Securing Your Assets in the UAE by Registering Your Will 14
Do you have assets in the UAE? Have you made a will yet? It is highly recommended to register a will soon, otherwise, the drive to asset disbursement can be extensive and expensive. In addition to the option of registering a will in DIFC for Non-Muslim will registration, Abu Dhabi Judicial Department (ADJD) had also introduced a separate office since August 2017, which has made the entire will registration process easier and cost-effective.
Dec 16, 2018
4340
Why You Need a Will in the UAE? 4
The United Arab Emirates is a Sharia-Law country with respect to personal status and inheritance. In accordance with the UAE legislation, the UAE Courts will adhere to Sharia Law in a situation where there is no proper Will in place.
Feb 28, 2017
4893
Laws & Regulations
2 available 2 • 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
29529
Federal Law No. (28) of 2005 On Personal Status 24
UAE Personal Status Law (also known as Personal Affairs Law) governs marriage, divorce, inheritance and other personal affairs in the United Arab Emirates. The law equally applies to citizens of the UAE and non-citizens unless one of them asks for the application of his home country law.
Nov 19, 2005
49062

Other answers by
213 213 answers •
View allWhen to claim an inheritance in Dubai while being abroad and which law is applied ? 0
Dear sir/madam,
I would like someone to be honest with me. I am in the UK. How long have I got to claim inheritance in Dubai?
I was reading in the Gulf News that the laws of the country of the deceased at the time of death can be applied regarding the will.
Is this true or false? I am really looking for these two questions to be answered first. Can anyone help me with this, please?
Mar 25, 2022
414
I seek to cancel a purchased property and get refund for delay in handover 0
Dear Advocate Sweta Singh,
I am from India and in Sep 2018, I purchased an apartment in a hotel. The hotel has not been completed and the delay is more than a year.
They have not paid any compensation as per the contract, nor do they talk about it. I have paid more than 80% in installments and paying it regularly.
Please help me, guide me on how to cancel the deal and get a full refund, or any other way which helps me recover my investment.
Regards
Mar 9, 2022
346
Is it possible to apply a will issued in South Africa in the UAE? 0
Dear questioner,
My father (Muslim) has passed away in South Africa. He leaves behind 4 children, his wife (our mother) and his own mother.
He had a will for South Africa in which, I (oldest son) am executor. The will does state that it encompasses all property and assets wherever they may be.
He has various properties and assets in the UAE. My questions are:
1. Does his will have power in the UAE or will it be divided by Sharia?
2. What documents are required to wind up his estate?
3. What is the wind-up process within the UAE?
Feb 22, 2022
464
How to access the bank account of my son who passed away recently? 0
My son tragically died in Dubai and his salary has been paid into a UAE HSBC bank account.
My daughter also lives in Dubai and has an HSBC account.
How can I access my Son's bank account, please?
I live in the UK.
Feb 17, 2022
368
How can we access the bank account of a deceased person? 0
My uncle died 2 weeks ago in one of the private hospitals here in Dubai.
We have already completed everything regarding the repatriation of his body with the help of his employer and his remains are already sent back to our home country last week.
He used to give me an access of his ATM card before and I tried to access it just few days ago and I found out that there is some amount of money left on his bank account.
I am aware that he has some pending bank loan requests before he died, so I am afraid that amount might be the reason of such big amount.
Being the only family member of my deceased uncle, what should I do in order to make sure that the amount is from his savings and not from his bank loans?
In case the amount is proved to be his own savings, is there any chance for me to get the authorization to claim that amount from the bank to be used by his family?
He has a wife with 3 kids back home.
Thanks a lot in advance.
Feb 10, 2022
278

Other answers by
157 157 answers •
View allكيف يمكن لشركة ذات مسؤولية محدودة أن تعلن إفلاسها؟ 0
كيف يمكن لشركة ذات مسؤولية محدودة أن تعلن إفلاسها؟
Feb 3, 2022
1723
Can the new owner of an apartment increase my rent if it is against RERA Index? 0
Hi
I'm a tenant of an apartment and a new owner has purchased the apartment. I would like to know:
1. Should I revise the Ejari by canceling the previous one and applying for a new one?
2. My current rent is 35% less than the current market value. Can the new owner change the rent as per the market value, or he still has to follow the RERA Index calculator for a new contract?
Nov 19, 2023
109
I agreed with my landlord to increase the rent 10% I pay in cash. Should I insist on changing the contract? 0
I'm staying in JLT in a house with a rent of AED 140,000 per year. The lease starts on 1st Sep '23 and expires on 31st Aug '24.
The landlord sent me a legal notice from the Dubai Courts in mid-Sep '23, giving me 1-year notice to vacate the house as he plans to sell the house. The notice was received by me through email from the court.
He claims the email notice sent by the court is not valid till I receive it by courier via Aramex for my physical signature. Can you please confirm if this is true?
The landlord is now ready to let me stay in this house for two more years. He has proposed that we maintain the existing lease agreement and Ejari. However, I should pay him AED 14,000 in cash (10% increment).
We will sign a separate paper document wherein we will agree that I will further rent increase of 10% (10% on (140,000+14,000)) on 1st Sep'24 when my current lease expires.
Should I insist on making a fresh written contract with the higher rent (140,000+14,000=154,000)?
Nov 18, 2023
135
Is it possible to terminate a labor contract before the end of the two-year term? 0
Hello.
I have been with my employer for 15 months, and my employment contract is for two years.
Is it possible to terminate the contract before the end of the two-year term?
Nov 24, 2023
125
I have signed Form F and got the mortgage but the seller is in breach. What to do? 0
Hi
I have signed the MOU Form F since July 2023 and we prepared all the papers and the loan from my end on 23/8/2023.
When I went to DLD for the transfer, the seller had registration issues and asked for some papers to be provided as the property is under the company not an individual.
Since that time, we have kept renewing the MOU every month in the hope of finalizing but I am not seeing any progress.
So I am asking about legal action as I already got a bank mortgage and started paying as well but not seeing any progress from the seller.
So I need to ask the following:
1. If my MOU expired on 20.11.2023, can I file a complaint on 20 or after a couple of days like 23?
2. What will happen in terms of 10%? Will it be returned and what about the fees paid to the bank like mortgage fees, evaluation, and cancellation of loan? Will the EMI payment be compensated by the seller?
3. What is your advice?
Thanks
Nov 16, 2023
889
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