Questions & Answers
Questions & Answers
3 available 3 • View allHow to cancel a trade license when the agent asks for money?

1
Q: Hi there,
I made a trade license in Ajman. It was issued on 12 February 2020 and then the next month lockdown happened. I couldn't do any business and I lost all my savings for paying rent and expenses.
I couldn’t renew my license. So I am doing a job now again but my visa is still under that license I want to cancel the license now. The Agent is asking me to sponsor money for 2 Years. I didn't even use the license for a month.
Please suggest or guide me with the situation.
Thanks & Regards,


Nov 27, 2022
231
How to cancel a trade license after business failure
3
Q: I hold a professional trade license with a 15% local partner. However, I have closed the company in early 2019 and have not renewed the trade license for the past two years.
The business was not good and hence I did not pay the sponsor fees for two and a half years. I want to close the company officially and also cancel all the visas linked to the company.
The local sponsor is not cooperating and he is asking for the past three years' sponsor fees, which I don't have. Please guide me on how to cancel and return to India without any legal hassle with the local sponsor.
Please advise!

Oct 27, 2019
1494
How to cancel a trade license

1
Q: My trade license expired and I couldn't renew it for the last two years because of a loss in my business.
Can I cancel my license? What is the procedure for that?
Please guide!


Dec 14, 2020
821
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Laws & Regulations
3 available 3 • 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.
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Cabinet Resolution No. (28) of 2023 on the Executive Regulations of Federal Decree-Law No. (46) of 2021 on Electronic Transactions and Trust Services 1
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