Q: I was a manager on a company trade license. My name was removed from the trade license in January 2017 and a new manager was named on the trade license. The land department RDC has issued a travel ban against my name. The ban should be in the name of the new manager. I have copies of the old and new trade licenses. How can I clear my name and ensure that this does not happen again with any future cases?

Q: Hello I am looking for someone to review a shareholder agreement and advise on how to exit. The shareholder agreement is done in the UAE. Please advise if this is something you do and your fees. Many thanks Maria

Q: I am a partner in a restaurant with a 20% stake and the remaining divided equally between 2 other partners. I have been made the managing partner to run the place. I would like to resign from the position as all responsibility has been put on me. I am not being paid for my time and efforts as a managing partner. I don't have any signing authority with banks and because of my position, all legal onus has been put on me. They are refusing to put money into the business and as it's a new business, the initial financial support is missing which is dragging down the business. In this situation, I am feeling overwhelmed and distressed because I know without the influx required for marketing, the business will not grow to become sustainable. And without any compensation coming from the company, I cannot survive. So I would like to remove myself from the managing partner position. How can I do that?

Q: Dear sir/madam, How does a partner exit a TECOM LLC partnership on mutually agreeable terms and what is financially due to the partner exiting the business?

Q: Can I renew my free zone business license by myself or do I need to pay an agent to do it for me? They are charging a very high fee to fill out a form.

Sometimes this seems very simple to incorporate a company in the UAE, however, investors must seek professional advice before taking this important business decision to avoid any future legal implications.

For entrepreneurs seeking to set up their business in the mainland jurisdiction of the UAE, this is a useful guide to know your rights and obligations.

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.