PDC CHEQUE
Dec 29th 2008, 9:31 am
#1
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Joined: Dec 2008
Posts: 19
PDC CHEQUE
A company owed me some money and they have given me a post dated cheque which I did not want to take, but had no option, what's the downside??
Dec 29th 2008, 10:09 am
#4
Lost in BE Cyberspace
Joined: May 2008
Posts: 5,125
Re: PDC CHEQUE
it can be presented twice if on the third time it bounces again then you go to the police etc
Dec 29th 2008, 10:39 am
#7
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Joined: Dec 2008
Posts: 19
Re: PDC CHEQUE
Yes it is a big company, been running for 4 years, with assets in Dubai. My only concern is that in the current economic climate should they go bust, what chance do I have of cashing in my cheque?
Dec 29th 2008, 10:40 am
#8
BE Forum Addict
Joined: Apr 2005
Location: Melbourne
Posts: 4,553
Re: PDC CHEQUE
You can file a criminal case (at the police station) even if it bounces the first time - you don't have to wait .....
Dec 30th 2008, 11:06 am
#10
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Joined: Oct 2008
Location: Moved to Mirdif
Posts: 319
Re: PDC CHEQUE
300k start-up capital, with a certificate from the bank confirming that the amount is available in your account and that it will remain in the account until such time as you furnish the bank with sight and copy of a valid trade licence.
c. 150k plus 5% agent plus 5% municipality for a thirteen-month office Tenancy Contract.
c.150k plus 5% agent plus 5% municipality for a residence Tenancy Contract
c.15k to obtain health certificate, medical tests and to obtain an investor’s visa (qualifies one for labour and residence).
When all the above are in place, then:
c. 15k to obtain a trade licence, a Chamber of Commerce certificate, and to have your offices inspected by the municipality.
Plus:
5k recoverable deposit telephone roaming charges.
10k recoverable deposit to Dubai customs (if you are importing goods).
A valid telephone land line telephone account is required.
Also:
c. between 10k and 50k (depending on your agreement) to pay your local sponsor’s first year’s commission.
The trade licence allows you to trade only with the goods or services as mentioned in the licence.
Dec 30th 2008, 12:35 pm
#11
BE Forum Addict
Joined: Aug 2007
Posts: 3,287
Re: PDC CHEQUE
In order to set-up a LLC company in Dubai, you will need AED:
300k start-up capital, with a certificate from the bank confirming that the amount is available in your account and that it will remain in the account until such time as you furnish the bank with sight and copy of a valid trade licence.
c. 150k plus 5% agent plus 5% municipality for a thirteen-month office Tenancy Contract.
c.150k plus 5% agent plus 5% municipality for a residence Tenancy Contract
c.15k to obtain health certificate, medical tests and to obtain an investor’s visa (qualifies one for labour and residence).
When all the above are in place, then:
c. 15k to obtain a trade licence, a Chamber of Commerce certificate, and to have your offices inspected by the municipality.
Plus:
5k recoverable deposit telephone roaming charges.
10k recoverable deposit to Dubai customs (if you are importing goods).
A valid telephone land line telephone account is required.
Also:
c. between 10k and 50k (depending on your agreement) to pay your local sponsor’s first year’s commission.
The trade licence allows you to trade only with the goods or services as mentioned in the licence.
300k start-up capital, with a certificate from the bank confirming that the amount is available in your account and that it will remain in the account until such time as you furnish the bank with sight and copy of a valid trade licence.
c. 150k plus 5% agent plus 5% municipality for a thirteen-month office Tenancy Contract.
c.150k plus 5% agent plus 5% municipality for a residence Tenancy Contract
c.15k to obtain health certificate, medical tests and to obtain an investor’s visa (qualifies one for labour and residence).
When all the above are in place, then:
c. 15k to obtain a trade licence, a Chamber of Commerce certificate, and to have your offices inspected by the municipality.
Plus:
5k recoverable deposit telephone roaming charges.
10k recoverable deposit to Dubai customs (if you are importing goods).
A valid telephone land line telephone account is required.
Also:
c. between 10k and 50k (depending on your agreement) to pay your local sponsor’s first year’s commission.
The trade licence allows you to trade only with the goods or services as mentioned in the licence.
and don't argue, as I have done it and still doing it.
Maybe that is what you were blagged into..
Sorry I forgot to say: Happy New Year
Last edited by admon; Dec 30th 2008 at 12:43 pm. Reason: to add Happy New Year of course!!
Dec 30th 2008, 1:12 pm
#12
Lost in BE Cyberspace
Joined: May 2008
Posts: 5,125
Re: PDC CHEQUE
in ad there are easier ways of going about it, without all that amount of money.
Dec 30th 2008, 1:29 pm
#13
BE Enthusiast
Joined: Oct 2008
Location: Moved to Mirdif
Posts: 319
Re: PDC CHEQUE
Thank you for your new year wishes.
May you live in interesting times.
Dec 30th 2008, 2:01 pm
#14
Just Joined
Thread Starter
Joined: Dec 2008
Posts: 19
Re: PDC CHEQUE
Thanks for advise, I done some research on them today and it all looks ok.
'fingers crossed'.
'fingers crossed'.
Dec 30th 2008, 2:04 pm
#15
BE Forum Addict
Joined: Aug 2007
Posts: 3,287
Re: PDC CHEQUE
my trade licence and visa tells me and the authorities that my business is (and it is) 100% legal.
just because you don't know better, don't assume that you know best..