Questions & Answers
Questions & Answers
3 available 3 • View allManaging shares of a deceased ex-pat director in an LLC: What's the process?


1
Q: Dear Sir/Madam,
Recently, one of our ex-pat directors passed away. The company is an LLC, with shares split as follows: 51% owned by a local Emirati, 25% owned by an ex-pat director, and 24% owned by another ex-pat director.
We need to determine how to manage the shares of the deceased partner since he has no family here and his family back in his hometown wants nothing to do with the business and is uncontactable.
What is the process for retrieving the shares and continuing our operations?



Mar 22, 2023
123
What happens to the company and its operations if one of the partners is deceased?


0
Q: X Real Estate LLC is a newly formed LLC company in the mainland (DED) with 10 partners, 9 of them Indians and one Pakistani.
As per the new provisions, the company is owned 100 % by expatriate residents. The company’s business is buying and selling real estate in the UAE.
Query:
What happens to the company and other partners, when one partner dies with or without a will?
Can the remaining partners continue to operate the bank account or it will be frozen?
Are the operations of the company frozen? Can the remaining partners carry on the business as usual, buy, rent, and sell the properties?
Can the partners pay the share of the deceased partner to his legal heirs and distribute his share among the remaining partners?
Will this affect the other businesses of the remaining 9 partners in any way?



Feb 27, 2023
259
How to transfer the shares of my father in an LLC after he passed away?
0
Q: My father was an LLC 49% partner in Sharjah and passed away in Pakistan.
Now I came here. What should I do?

Mar 15, 2022
278
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An interview-format article covering reasons why a non-Muslim expatriate should have a will in the UAE. This is from the legal podcast of lawyer Ludmila Yamalova, the founder of Lawgical with LYLAW. Ludmila sheds light in this article on the right time and place to start the procedure based on tested practices in the UAE.
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Securing Your Assets in the UAE by Registering Your Will 14
Do you have assets in the UAE? Have you made a will yet? It is highly recommended to register a will soon, otherwise, the drive to asset disbursement can be extensive and expensive. In addition to the option of registering a will in DIFC for Non-Muslim will registration, Abu Dhabi Judicial Department (ADJD) had also introduced a separate office since August 2017, which has made the entire will registration process easier and cost-effective.
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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.
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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.
Mar 25, 2015
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Federal Law No. (5) of 1985 On the Civil Transactions Law of the United Arab Emirates 96
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.
Dec 15, 1985
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Federal Law No. (28) of 2005 On Personal Status 38
UAE Personal Status Law (also known as Personal Affairs Law) governs marriage, divorce, inheritance and other personal affairs in the United Arab Emirates. The law equally applies to citizens of the UAE and non-citizens unless one of them asks for the application of his home country law.
Nov 19, 2005
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