Q: Is it possible to liquidate a company without a liquidator service? The company is LLC.

Q: I didn't renew my trade license for 2 years and it's expired. I need to vacate my company office for which I have a pending rent of 4 months. Can I give a notice to vacate the office to real estate immediately as we don't have a business and the income is zero? The rental agreement is not also renewed since May 2020. Kindly advice!

Q: Dear sir/madam, I have a small civil company for consultancy activity (not an LLC). The company has debts that we have not been able to pay. One of the partners is refusing to cooperate and refusing to sign a company closure contract for mutual dissolution of the company. A) What steps can I take to dissolve the company? B) Is there a difference between "dissolution", "liquidation" and "bankruptcy" for a civil company? C) What are the rights of the creditors of the civil company after the company is no longer existing? D) What happens to earlier existing execution cases against the company after the company is no longer existing? Thank you for your replies and assistance over here! I can visit the offices of the lawyer who makes an informative reply here to negotiate to represent me for this issue.

Q: Dear Sir/Madam, Greetings! I registered a company in Dubai a few months ago but no activities took place and my license expired six months ago. I also have a business bank account. Is it possible to close the company and the bank account without incurring any fees or charges? My company is a sole establishment.

The UAE continues to strive to modernize its laws and create more flexibility in meeting the needs and requirements of investors and businessmen and elevate its economy to the highest levels of growth and development.

Over the years the UAE has become a centre of trade and commerce for the Middle East, thanks to its strategic location, excellent connectivity and extensive services to assist with all aspects of business. According to the World Bank's 2016 report, the UAE has ranked 31st in the global index of ease of doing business. This encourages more entrepreneurs to set up different kinds of business entities in the country.

Companies can be wound up by Voluntary Liquidation. This shall proceed as initiated by shareholders or creditors of a company by passing a valid shareholder’s resolution. When a company’s financial mechanism fails, and the company is in financial distress and/ or becomes insolvent whereby it is unable to pay off its debts, the company may file a petition for winding up to the court.

للشركات كما للإنسان، دورة حياة. وحيث يبدأ الشيء، فلا بد له من نهاية، ولا باقي إلا الله. وإنه حيث نظم القانون نشأة الشركة، وعقد تأسيسها، فإنه كذلك لم يغفل تنظيم قواعد حلها وتصفيتها، ذلك لأن هذه القواعد بالغة الأهمية والحساسية، فهي تنظم طريقة أداء ديون كافة دائني الشركة، وتحصيل حقوقها، وتوزيع الأرباح أو الخسائر على الشركاء بعد بيان ما لها وما عليها. ونعرض في هذا المقال لهذه الإجراءات بحسب ورودها في قانون الشركات الإماراتي بإيجازٍ غير مخل.

Dealing with financial difficulties can be overwhelming, but the UAE provides a comprehensive legal framework to manage bankruptcy and insolvency in a way that benefits both debtors and creditors. Understanding these laws and how they work can make a huge difference in navigating the process successfully.

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.

The provisions of this Federal Decree-Law No. (51) of 2023 Promulgating the Financial Restructuring and Bankruptcy Law, known as the "Bankruptcy Law" governs Financial Restructuring and Bankruptcy regulations in the United Arab Emirates