Q: Dear Sir/Madam, My company license expired three days ago, and I need to cancel my free zone visa. How can I cancel my visa now?

Q: I am a partner in an LLC registered in Dubai, whose license was expired in Nov 2017. I was a passive investor stationed in India and the company was managed my senior partner and MD (Managing director) of the company who was stationed in Dubai. The company was not managed well, the licenses were not renewed and the business activities did not take place. My last visit was in May 2017. The MD of the company is still in Dubai on an earlier visa but didn't get in touch with me and he's not reachable. Now, I want to start a new venture in any free zone on an individual basis. How can I cancel the earlier visa and get a new investor visa in the free zone? Is it necessary to liquidate the old company in order to cancel the visa? Is it possible for me to cancel the visa on an individual basis and apply for new company formation? Please guide me.

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 Lawyers, I am an investor and have a fine exceeding 10k. I applied for an exit permit under the current amnesty, but it was not approved. I was advised to cancel the facility card. To do so, I need to cancel the license and pay the immigration card fine, which has been expired since September 2023. My company is a Free Zone company in Shams with three visas under the license. I am willing to return home with an exit permit. However, I don’t have enough money—only a small amount that is not sufficient to cover all the fines and visa cancellation fees. Free Zone costs are much higher than those in the mainland. Please advise on the best option I should follow to exit.

This article will briefly explain about the Personal Insolvency Law of 2019 and Bankruptcy Law of 2016 in the UAE. Previously, there was only the Bankruptcy Law that was available for the commercial companies, merchants, traders, and similar persons who were suffering from the financial crisis but now individuals have such options available as well especially considering the effects of COVID-19. Both laws were issued to assist distressed persons and entities by offering them settlement options.

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.

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.

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.

In the UAE's fast-paced and evolving business environment, legal complexities are becoming harder to navigate. Professional legal advice is no longer optional, it’s a strategic necessity for growth, stability, and compliance. This article explores why expert legal counsel is essential for safeguarding business interests and seizing new opportunities.

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 law, promulgating UAE Civil Code, govern the civil transactions in the United Arab Emirates. The commercial transactions remain subject to the laws and regulations applicable in their regard.

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