Q: I have a company in Ajman Freezone. We are 2 investors (myself and a business partner). I wish to remove myself as an investor and cancel my visa. The trade license expired recently and there is a small outstanding amount to be cleared as well. How can I proceed with the cancellation of my visa?

Q: My partner in the LLC trade license is out of the country for about 14 years and is unreachable. Is there any way through which we can remove him from the trade license?

Q: How can I remove my shareholder name from a professional license in Dubai economy? And how can I cancel my partner visa from this license? Kindly help me!

Q: Dear Sir/Madam, I am currently facing a complex situation involving a business partnership gone sour. Two years ago, a friend and I embarked on a bed space business venture without obtaining a trade license. While I covered the full investment, my friend took responsibility for managing the flat. We agreed to split the profits 50-50. However, over the past 8 months, he has been withholding profits and not contributing to utility payments, leaving me to bear the losses. Despite my repeated requests for reimbursement, he consistently delays payment. Recently, he renewed the flat in his name and is claiming ownership. Furthermore, he has replaced me with another partner and refuses to compensate me for my share of the goodwill amount, which amounts to approximately AED 30,000. Additionally, he is spreading false accusations about me to mutual friends, tarnishing my reputation. My question is, do I have any legal rights to claim from him? If so, what would be the appropriate legal procedure to pursue in this case?

Q: Dear Lawyers, One of the minority partners (20% share) in an FZC company has embezzled company funds and is currently outside the country. What legal actions can the majority partner (80% share) take to recover the funds? Would a cheque signed by the minority partner help expedite the process?

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.

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.