Anti-crisis management of the company
in tough economic circumstances

Find out how to solve the issues of your business in a crisis situation
as easy and efficiently as possible

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In any situation, a correctly chosen strategy ensures a successful solution to the difficulties encountered. SORP consultants will assist you in accompanying your activities and provide comprehensive anti-crisis support and a wide range of outsourcing services. We will advise you the right decisions in any situation and select the best way
to improve your business in accordance with the legislation in force in the UAE.

Why business in the UAE can become unprofitable?

Wrong choice of license and place of
incorporation

As a result, it does not fall into the intended niche and
does not reach the target audience.

No USP (unique selling
proposition)

As a result, the inability to remain competitive
in the market of goods or services.

Unfortunate external
circumstances

Arising as a result of an incorrectly chosen development strategy or misunderstanding of the business environment, due to which you incur financial losses.

Risky financial strategy and
huge debt load

That leads to the inability to timely pay off accounts with
counterparties and suppliers

Why shouldn't you quit your business and run
away from financial problems?

The most important thing to remember for a businessman in a difficult situation is to resist the temptation to leave everything as it is and hastily leave the UAE.

If you do like this, you will make a big mistake, the consequences of which will play a negative role in your whole life.

The consequences of abandoning the business

International publicity due to automatic
data exchange

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First, this event will receive international publicity. As soon as you cease your activities in the UAE, you lose your tax resident status.

This means that all information about you and your company (including violations, promissory notes, unfulfilled contracts in the Emirates, etc.) gets into the system of automatic information exchange, and the data that you probably would like to keep secret will go public.

The presence of such information in the international system will bring negative consequences for you personally and your business as a whole. This is a noticeable unpleasant blow to your reputation, an indicator of your unreliability and incompetence.

Unclosed obligations and debts will
negatively affect your credit history

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Secondly, unsecured liabilities and debts will negatively affect your credit history, including that in other countries. Almost all well-developed countries use the international banking system for collecting information about business entities around the world.

This is a kind of international register where information about all debts, fines, unfulfilled obligations, violations of labor standards by entrepreneurs and much more goes. Leaving a business with such "baggage", you risk being blacklisted not only in the UAE, but also in other developed countries, as well as large international banking structures. Your chances of getting loans for the development of a new business on favorable terms will be significantly reduced.

You restrict your right to move freely
through and inside the United Arab
Emirates

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Third, you limit your right to move freely. The Emirates are the largest transport hub through which many routes pass.

Leaving unfulfilled obligations on the territory of the country, you will no longer be able to safely use the UAE as a transit hub, since you will be immediately removed from the flight and taken into custody until you have resolved all your debt issues.

Possible negative interpretation of
income as fraudulent

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Fourth, your escape can be interpreted as a fraud. A criminal case will be opened against you, which may lead to an international wanted list.

Legal ways to get out of a crisis situation

All the above arguments prove that despite the situation and circumstances, if you are on the verge of a crisis or are experiencing financial difficulties, you need to act in accordance with the letter of the law.

Together with SORP consultants, you will be able to go through a financial recovery procedure in
order to find an opportunity to pay off debts and, depending on your goals, put your business in
order or properly wrap up all cases.

More about ways to get out of a crisis situation

Bankruptcy

If you understand that the financial situation of your company has approached critical indicators, you urgently need to go to court and initiate a financial recovery procedure until your creditors have the right to initiate a criminal case against you.

Having considered your application, the court will appoint an expert (trustee) who will conduct a financial audit, find out the amount of your debt to creditors and help you draw up a debt repayment schedule. This document is registered in court and presented to creditors who are forced to agree to these measures, since they are interested in you being able to pay them off. The function of supervision over the actions of the management of the debtor company in this situation is carried out by the Committee for Financial Restructuring.

Pre-trial
settlement

Drafting of employment contracts, service and investment agreements

Outsourcing
services

Accounting, tax, consulting and legal support

PRO
business support

Immigration procedures and registration of employees in the Ministry of Labor

Liquidate a legal entity and revoke a license

If the business does not go, you no longer want to do business in the UAE, or you understand that you were mistaken with the jurisdiction or type of license, you must put an end to it in time. In this situation, you need to fulfill all your financial obligations to counterparties, pay off the staff, de-register, revoke the license and close bank accounts. In the absence of debt, this procedure will take a little time.

If you are not going to leave the UAE and intend to resume work, this time choosing the right place and obtaining permission for suitable types of activities, then you will have to go through the registration procedure again.

Tax deregistration support

Drafting employment contracts, service and investment agreements

License revocation support

Immigration procedures and registration of employees in the Ministry of Labor

Bank account closure support

Communication with government bodies on behalf of the company

Sell out the business

In the UAE, there is always a high demand for a ready-made working business. It happens due to high business activity within the country and a constant influx of new investors. The most appreciated are companies with the following characteristics: there is an active customer base, personnel selected, financial audit prepared, development plan drawn up, business has been successfully operating in the UAE for a long time.

If you do not want to develop the business you have created, then transferring it to a new owner is a rational and quick legal way to get out of it, having received decent financial compensation for the effort spent. SORP specialists provide a full cycle of services in support of transactions for the purchase and sale of ready-made companies.

Comprehensive business audit and value determination

We will carry out an audit and supervisory examination of all financial indicators and management

Marketing strategy development

Assessment of competitiveness, as well as actual value, identification of advantages and trends

Business re-registration support

Legal support in re-registration of a business and ensuring complete security of the transaction

Freeze the license for a certain period

Doing business in the UAE requires certain investments, for example, license renewals, office rent, legal and accounting services. There are situations when, despite the fact that your business is in the right place and has the right licenses, it does not bring the desired profit, and it becomes expensive to recoup the costs.

Such circumstances force you to think about suspension of activities. In such situation, SORP consultants recommend using the license freeze service. This step will save you from having to go through the difficult path of liquidation and start all over again. You will retain the legal entity and license for up to three years.

License freezing support

Communication with government bodies on behalf of the company

Legal and PRO service

Drafting employment contracts, service and investment agreements

Post-crisis development strategy

Drawing up an individual anti-crisis model taking into account business environment peculiarities

Anti-crisis management, financial restructuring and cost optimization

Control, audit and risk management are the key to successful business. If you understand that operating expenses are too high, take measures to optimize costs.

In order to effectively assess and identify the "problem" areas of your activity, it is necessary to analyze the effectiveness of personnel and develop a methodology for increasing labor productivity. If necessary, it is important to optimize the number and structure of the staff, to retrain key employees. It is also necessary to prepare management reports that can objectively reflect the state of affairs in the company.

Reporting

Preparation of management reports that can objectively reflect the state of affairs of the company

Owner risk assessment

Control and prompt response to internal and external risks of the company.

Crisis management

SORP Group provides professional management services for your business in the UAE.

SORP Group will become your reliable partner in long-term work in the UAE

Leading consulting group providing a full range of services for the incorporation, support and management of business in the UAE and abroad. We have an impeccable reputation, broad capabilities and assets.

Complex of all services

The company offers a comprehensive solution for business and shareholders: from registering companies to obtaining the status of a tax resident of the country

15 years of successful work

We incorporate companies, oversee investment projects, open bank accounts and offer high-quality business support to accelerate your success in the UAE

Comprehensive service

We provide a wide range of valuable outsourced services and tools in the UAE - from advising on acquiring a business to accounting and drafting legal documents and contracts

Professional specialization

We have expertise across all market sectors and the tools to tackle complex issues. Our portfolio contains many success stories for obtaining special business licenses for our clients

SORP business center

5,000 square meters (54,000 sq. ft.) of modern office space for rent in a prestigious location in Dubai to accommodate staff, undergo bank checks and confirm economic presence in the UAE

Strategic partnerships

Procurement of state licenses and accreditation helped by long-standing relationships with relevant departments