Questions & Answers
Questions & Answers
3 available 3 • View allThe relationship between loan settlement and an LLC company liquidation

1
Q: I am a shareholder in an LLC company in Dubai for which we (partners) decided to file liquidation because of the consequence of loss due to COVID 19.
I wanted to know how my personal debts will be treated then? I have one personal loan from Deem finance of outstanding 60,000/- and 3 credit cards of a total outstanding amount 85,000/-.
I have 6 missing installments of personal loan & credit card bills. I left the UAE about 7 months before but now I would like to clear my record.
I need your suggestion to settle my debts. Can I get benefit from insolvency for my personal debt?
Or what's the best way to settle the outstanding amount?


Apr 27, 2021
575
Liquidation of free zone company and settlement of a debt
1
Q: My FZ company has lost its major clients and is no longer able to trade. It has one creditor with an outstanding balance of AED 120,000.
What are my options to close the company down and what are my liabilities regarding the debt?

Nov 14, 2018
1241
Failing to pay the amount of a judgement by the company owner

9
Q: What happens if you are not able to pay any money even after the judgement/execution of a civil case? If there are no assets that can be claimed?
There were a genuine business loss and no money to settle with the bank/court.
Please advise


Oct 7, 2019
1790
Legal blog
4 available 4 • View allThe Legal Alternatives of Bankruptcy in the UAE Legislation 1
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.
Apr 9, 2019
2520
Mortgage of Movable Assets in the UAE: A Wanted Change 2
The UAE has taken a bold step toward legislating the mortgage of movable assets after it was completely regulated by the Civil Code. The Federal Law No. 20 of 2016 Concerning the Mortgage of Moveable Assets, which came into effect 90 days after it was published in the Official Gazette on December 15, 2016, was a welcomed change by lenders after it gave them the ability to secure their debts with movable assets.
Oct 20, 2018
2111
Online POA and Other Notary Public Services in the UAE 28
With the introduction of the new procedures for obtaining a power of attorney (POA) remotely in the UAE, after it was mandatory to appear in person in front of the notary public as a global rule to ensure the identity and intention of the person requesting a POA, we put between your hands this brief guide for how you get it done.
Jun 8, 2021
19288
تصفية الشركات في القانون الاتحادي رقم (2) لسنة 2015 بشأن الشركات التجارية 23
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.
Sep 9, 2020
3953
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.
Mar 25, 2015
29609
Federal Law No. (3) of 1987 Promulgating the Penal Code 29
This Law promulgates the Federal Penal Code (Criminal Law) of the United Arab Emirates. Crimes and chastisement punishments shall be determined in accordance with the provisions of this Law and other penal codes.
Dec 8, 1987
47996
Federal Law No. (18) of 1993 Issuing the Commercial Transactions Law 19
This Law applies to merchants, as well as to all acts of commerce carried out in the UAE by any person even though he be not a trader. Commercial matters regarding which specific Federal laws are issued shall be subject to the provisions of such laws, and to the provisions hereof which do not contradict with said laws.
Sep 7, 1993
33108

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Terminating an employee during probation: 14 or 30 days' notice? 3
Dear Sir/Madam,
If an employee is still on probation period, can the employer terminate the contract with 14 days' notice even if the employment contract states 30 days' notice?
The company is under MOHRE.
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Is the RERA Index Calculator the sole source for determining rent increases? 2
Dear Sir/Madam,
I reside in a Dubai community, and my tenancy renewal is approximately 95 days away.
The landlord is proposing a 15% rent increase, primarily based on rents listed on propertyfinder.ae, claiming that my current rent is 25% below market rates.
However, the RERA Rental Index indicates "no increase in the rental value" as my rent is at the top of the quoted range, prompting me to reject the proposed increase.
The real estate broker he hired at the time of my move-in recently contacted me, serving as an intermediary, mentioning that he would conduct a DLD valuation, likely resulting in a higher value.
However, he is attempting to negotiate first, considering the cost of around 2500 AED.
If we were to dispute, is the RERA Index Calculator the sole authoritative source for determining rent increases?
Additionally, if the DLD valuation is accepted, what is the potential maximum increase?
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How to collect judgment from LLC with closed office and expired license? 3
Hello,
I have a commercial execution case for the recovery of payments.
I sent a notification to the local owner (100% ownership of the LLC), but I see that the company has closed its office and its license has expired.
How can the courts get the money ordered in the judgment?
Thank you!
Oct 12, 2023
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Work visa rejected for security reasons: What to do? 2
Dear Sir/Madam,
My work visa was rejected. When I visited the immigration office, they told me to come with my company's PRO.
I did, and my PRO told me that my visa was rejected for security reasons. I don't understand why my work visa was rejected, as I don't have any cases in India or the UAE.
I am new to the UAE. Can anyone please help me resolve this issue? What can I do? Is there any alternative to clear this?
Oct 10, 2023
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How can I close a company I have RAKEZ without the presence of my partner? 0
I am a 50% shareholder in a company at RAKEZ, and the 50% shareholder is my partner who has left the country and will not return. I cannot run the company alone.
Next month the company is due for renewal, the expenses of which I cannot afford. I want to close the company.
RAKEZ people say file a case and bring court papers to close the company. Where can I go, what should I do, can I get help?
I do a small job in the shop.
Sep 27, 2023
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If the Public Prosecution appeals a not-guilty verdict with no new evidence, will it stay the same? 0
Hi Sir,
My husband had a judgment where he was found not guilty, as the misdemeanor court stated that it doubts the charges against the accused and found no conclusive evidence except the statements in the report files.
The court considered this invalid because there was no translator. After this, if the Public Prosecution appeals, will the verdict remain unchanged and be upheld if there is nothing more than this
Can you shed some light from your experience on this issue and say if the result will remain the same?
May 20, 2025
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Am I entitled to take 15 days' leave immediately after my probation period ends? 0
Hello,
I want to apply for 15 days' leave to visit my family immediately after my probation period ends. Is this legal as per UAE labor law?
Thanks in advance for educating me!
May 19, 2025
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Am I required to replace an old fridge owned by the landlord if it can't be repaired? 0
Hello,
My rental here in Dubai comes with a fridge and cooker. I believe these to be at least 10 years old. The fridge has now stopped working and requires a part to be replaced.
This comes at a cost of 540 AED, which is over the agreed amount that I am responsible for. My Ejari comes with an extra addendum provided by the landlord, which states:
1. The landlord is responsible for major maintenance of the apartment (namely structural, electrical, and plumbing) exceeding 500 AED + 5% VAT. The tenant is responsible for any minor maintenance as needed as a result of wear and tear.
2. The property is leased with the following assets (fridge and cooker) owned by the landlord in working condition and should be returned in the same condition. Any maintenance required is the tenant’s responsibility.
My question is:
If I'm unable to fix this fridge, do I have to provide a new one? The company looking to repair the fridge is having an issue finding the part needed, as it is old.
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How to clear name and go back if you left the UAE with an unpaid personal loan? 0
My brother had a personal loan of 300k.
He lost his job, and the company terminated him, and his visa was cancelled, so he moved back home in 2015. He is trying to find a job back in the UAE.
Is there any way to get him cleaned, paying the court fine?
The bank he had a loan with has been merged with other groups, and he doesn't know who to contact.
Repayment is impossible without a job, and finding a job at the age of 50 is not an easy task.
Appreciate your advice.
Thanks
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My sister passed away, leaving her son. How can I transfer his visa to my name? 0
Hello,
My sister passed away and left her son. Her husband has given me power of attorney and a legal heir certificate.
How can I transfer the son's visa to my name in the UAE?
May 19, 2025
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