How much Fine Approximately if license not renewed almost for a year?
One of my friend having Sharjah ( Trading License he was doing business since 2001.Last Year his License Expired in (April) & he went out of the country without cancellation & d0ing all legal formalities.
On License total Three Partners profit sharing ratio was 51%25%24%0% ,One Of the Partners is my colleague Mother Having Zero % Share in license she is still in UAE & her visa valid till (August-17) my colleague is having deep concern about her mother there will be any fine under her name & what is the best possible for her to get out of this situation .Can she stay in UAE till the validity of Visa & How she can cancel her visa legally & go safely to her home country as all partners already out of country.
Is she will be liable to pay License fine having Zero % in share & License already expired in April.If yes How much Fine Approximately if license not renewed almost for a year?
Waiting for your response
Go tahseel and give your visa paga or passport copy they will let you know about fine.may b some typing center can do this.sorry for my English I hope you get my point.
The information you have is incorrect, share of 0% is impossible in license. Try to find the Emirati sponsor as he/she holds 51% in the company. There is an MOA signed by all partners giving them rights in such scenarios, so they can agree mutually and resolve the issues. Incase of no progress, the local sponsor can cancel the visas too, but you won’t get any dues or payments as he/she isn’t liable
That’s termed as silent partner but cannot be proved or mentioned in any document
Trade license IN UAE is valid for one plus 30 days grace period, After expiry If not renewed within the grace period, Dh200 fine per month will be charged.
In your situation with you won’t be renewing the license, the best and first step, Visit Tahseel with a copy of your license and explain your mother’s situation as well. Good Luck.