Questions & Answers
Questions & Answers
3 available 3 • View allCan a transfer of the deceased company shares be revoked for being technically defective?
1
Q: A transmission to ultimate beneficiaries seems to be technically defective from the wording of the deceased's Will.
The Shares of the Deceased should have been transmitted to 3 Trustees including the living spouse of the deceased but instead, they were transmitted to the ultimate beneficiaries named in the Will (including 2 of the Trustees but excluding the living spouse of the Deceased), which transmission would take place only upon the death of the living spouse.
My question here is, can the defective Transmission be revoked and rescinded by the Board of Directors & the entries in the Register Of Members kept at Companies Commission be reversed back accordingly? Instead of going through a formal Transfer of Shares to reverse the transaction.
Thereafter, a proper and correct transmission is to be done, transmitting the Deceased's shares to the 3 Trustees as stated in the Deceased's Will.
Would appreciate advice on this matter.
Thank you

Dec 16, 2021
190
Transferring the company shares of a partner through a will
1
Q: Hi,
I wanted to know if I can transfer shares of a UAE company to my children through a will. I am an Indian citizen.
Does anything change if my company is a mainland company or a free zone company?

Jul 12, 2018
972
Transferring the shares of the father in a company to his heirs


7
Q: Hello,
I am a Chinese national who came to Dubai for my father's inheritance case after his passing earlier this year.
My father owned 2 LLC companies with the same local sponsor, one of which he had a 49% share and the other 25%.
I wanted to inherit the shares and exit the companies but was told there's nothing for me and my family to inherit.
One of the companies is more than 20 years old and the sponsor refuses to show me financial statements for these companies.
What can I do, please?



Dec 25, 2019
1507
Legal blog
4 available 4 • View allIf You Are Not Immortal, You Should Write a Will 4
The last Will or the testament has been regulated by all the modern and ancient laws worldwide, as an expression of wishes of any person to some actions and decisions that should be taken, and instructions to be followed after their death - either concerning their assets and how it should be distributed or concerning important decisions towards the well-being and future of their minor children.
Oct 14, 2021
802
Why Is It Important for Non-Muslim Expats to Have a WILL in the UAE? 8
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.
Nov 25, 2019
1968
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.
Dec 16, 2018
4353
Have you Appointed a 'Beneficiary' for Your EOSB at Your Company ? 14
The appointment of 'Benficiary' applies to payments made in respect of EOSB – End of Service Benefits, other emoluments due to the employee, unpaid salaries, employee insurance claim benefits, and all other cash and /or asset benefits due to the employee.
Mar 22, 2020
1235
Laws & Regulations
1 available 1 • View allFederal Law No. (28) of 2005 On Personal Status 24
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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How can I cancel my visa and POA for financial matters if I have a travel ban for company bounced cheque? 0
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What are my options after my rental renewal offer and deposit was rejected by the owner? 0
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