Q: I am a partner in an LLC registered in Dubai, whose license was expired in Nov 2017. I was a passive investor stationed in India and the company was managed my senior partner and MD (Managing director) of the company who was stationed in Dubai. The company was not managed well, the licenses were not renewed and the business activities did not take place. My last visit was in May 2017. The MD of the company is still in Dubai on an earlier visa but didn't get in touch with me and he's not reachable. Now, I want to start a new venture in any free zone on an individual basis. How can I cancel the earlier visa and get a new investor visa in the free zone? Is it necessary to liquidate the old company in order to cancel the visa? Is it possible for me to cancel the visa on an individual basis and apply for new company formation? Please guide me.

س: أريد أن أسأل سؤالاً لو سمحت. إذا كانت هناك شركة ذات مسؤولية محدودة بين ثلاث شركاء، هل يستطيع أي شريك من الشركاء إخراج أي موظف من الشركة من مدير مدراء أو مدير تنفيذ أو مدير صالة أو أي مدير آخر أو أي موظف آخر دون موافقة باقي الشركاء؟

Q: Hi there Michael, I am a 24% shareholder in an LLC wherein the other shareholders are our local partner with 51% shares and the partner who is listed as manager on the trade license with 25% shares. The manager has absconded leaving behind unpaid VAT and other debts that are well over 30 days due (up to a year). No proceedings by creditors have been filed against the company and the MOA contains a general POA in favor of the Manager. I would like to wind down the company without going through bankruptcy procedures. My understanding is that the listed manager of an LLC is personally liable for the Company's debts. I need advice about the procedures required to wind down the company. I do not wish to go through bankruptcy procedures as the finances and management of the company were being handled by the manager. I am just the creative director of the LLC. Please advise as soon as possible.

س: شركة ذات مسؤولية محدودة أنا شريك ومدير بها والشريك الثاني مواطن والشريك الثالث مصري خارج الإمارات ولن يعود الآن. السؤال: هل يمكنني التنازل عن حصتي في الشركة لأي شريك منهم سواء المواطن أو المصري بدون حضور الشركاء؟ أقصد أن أُحرر التنازل في كاتب العدل بدون حضور أي أحد من الشركاء أو بحضور الشريك المواطن فقط. إذا كان يجوز فعلاً، فبالنسبة للدائرة الاقتصادية، هل يجوز لي بهذا التنازل إخراج نفسي من الشركة في الدائرة الاقتصادية أيضًا بدون حضور الشركاء أو بحضوري أنا والمواطن فقط إذ أن الشريك الثالث لن يعود الآن؟

It is the first article in a series of articles written by the author to give a better insight to the readers about the corporate governance practices under the best practice principles and the UAE legal system through innovative suggestions of its implementation for your organisation. Next series will be on the UAE regulatory framework on corporate governance.

It is the second article in a series of articles written by the author to give a better insight to the readers about the corporate governance practices under the best practice principles and UAE legal system through innovative suggestions of its implementation for your organisation. Next series will be on Corporate Governance for Non-listed companies.

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.

This Decree sets the rules and conditions for the termination of fixed-term (limited) or unlimited (not term-bound) employment contract between employer and worker in the United Arab Emirates.