Questions & Answers
Closing a company and cancellation of partners visas
Hi.
Kindly advise regarding:
(1) Closing a professional civil company (management consultancy) in Dubai with 4 partners + 1 local agent.
There are 4 partners (all family members) who are out of the UAE. 2 partners have investor visas & 2 have partner visas. 3 visas have expired during July-Sept 18 and 1 Investor visa expiring 17/11 as being out of the country for 6 months+.
Online at www.gdrfa.ae on logging in, the 3 expired visas are showing 'Inactive'. Does it mean visas are automatically cancelled & they can come on visit OR visas have to be physically cancelled at the immigration dept?
The company has no assets/liability. We want to close the company. The company's labour est card is already cancelled.
(2) Effect of a partner's personal credit cards' liability on the company as a he is a partner.
In the above company, 2 partners have credit card dues.
Is there an impact on 2 aged partners coming back to the UAE if the banks file cases & secure order on attaching the defaulting partners share in above company?
(There is no business/assets). Can 2 aged partners be asked to submit the company a/cs?
Dear Questioner,
There are differences between the expiry of residence visa and cancellation of the residence visa.
Residence visas usually become invalid on expiry (after the expiry date stamped in the visa).
On the other hand, cancellation of residence visa is an active process, which will have to be done, even if the visa has expired.
Therefore, these two terms should not be confused. Even the expired visa has to be cancelled by paying the required cancellation fee.
Since the partners are outside the UAE, you may request the sponsor to cancel your visa by presenting a copy of your visa in the immigration.
Further, personal credit cards will not have any influence on the company assets. The company has to undergo proper liquidation procedures to officially close the company.
If you need any further clarification, you may write to me.
Thank you.
Rajasree Ravivarma
0544461746
