Questions & Answers
The local sponsor is not allowing the expat partner to exit. What to do?
I have run a limited liability company in Dubai mainland with a 51 (Local) / 49 (Expat) ownership structure for the last 26 years.
Due to some issues, I wish to exit the company and handover it to the local partner but he is not letting me exit the company.
What are my options?
Thanks!
Greetings,
You can do this by taking the judicial path by filing a lawsuit to dissolve the company and liquidate it.
Hello,
As per your query, please note that it is difficult to exit without any NOC from the local sponsor.
You have the options as follows:
1. Form the company into FDI.
2. Liquidate the company.
3. Negotiate with the local sponsor for the full exit payment.
4. Pass the resolution and try to sell your portion. However, since it is an LLC, you have to involve the local sponsor.
Kindly contact me via phone or email for further assistance.
