Q: Hi! I'm planning to acquire a running business but the existing owner has some bank loan on the company name (which he says he will clear over the period of time). What should I do in the above situation? Please advise.

Q: I purchased a commercial shop and seller left Dubai immediately after that. There's loan with the bank in name of shop. 1. Fed Law No.18 of 1993 CL 47(1) says that the person upon whom the title to the business premises has devolved shall remain liable for the debts, if the creditors of such debts submit a statement thereof within the said prescribed period and........ 2. Clause 47 (3) says: Furthermore, the disposing party shall remain liable for the debts related to the business premises and which have arisen prior to the notification of the disposal unless he is discharged therefrom by the creditors. What is the difference between the two? Our sale agreement CL 8 says First Party (seller) bears all obligation owed by the Sold shop in favour of others including rents, wages, salaries, fees, taxes, fines .... and all other expenses related to the Shop until the date of registration of sale with the competent authority. What takes priority, sale agreement or Fed Law and who has liability for the loan?

Q: Buying a small business in Abu Dhabi. What are the legal requirements? What are the items on a checklist that one should consider before investing? What are the pitfalls of buying an existing business?

Q: Good evening, I would like to ask if it's possible to transfer all the financial claims and the case itself to the landlord who used my name to own and manage a flat. I have an RDC case under my name because of the fault of my cousin She asked me to use my name for her to own a flat and before that she promised me that no problem will arise. But she just used me and now I'm the one facing all the financial claims payment, travel ban and bring the port against him. How can I transfer this case under her name? Is it possible Sir?

Q: I'm going to buy an existing business in the UAE (mainland company). Please advice: 1. How can I check whether the company has any existing liabilities in UAE banks? 2. What kind of documents shall I request from the company owner as a confirmation that he paid all his debts to the local agent? 3. Would I request any proof from the local agent? Thank you!

Q: Hi, I am planning to buy an existing active company, 13 yrs old, but I foresee legal issues/hidden liabilities later. How can I best safeguard myself? What measures need to be taken before the transfer? Please advice!

Over the years the UAE has become a centre of trade and commerce for the Middle East, thanks to its strategic location, excellent connectivity and extensive services to assist with all aspects of business. According to the World Bank's 2016 report, the UAE has ranked 31st in the global index of ease of doing business. This encourages more entrepreneurs to set up different kinds of business entities in the country.

This article intends to give a brief idea of corporate crime, how it happens in the corporate world, the relevance of choosing the right legal action and mechanism.

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.