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??

it may bounce??

Ok, what can I do if it bounces? I thought its an offence here.

it can be presented twice if on the third time it bounces again then you go to the police etc

That's what I thought, will the police get heavy?, the cheque is for quite a lot of money!

Is the company a long standing reputable one, or just an unknown LLC? as anyone here with a few dhs (ok 50,000dhs plus) can get one set up..

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?

You can file a criminal case (at the police station) even if it bounces the first time - you don't have to wait .....

but by the time it bounces the bloke who signed it has done a runner

what date is on it ?

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.

the following statement goes for this whole post - err no you don't.

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

in ad there are easier ways of going about it, without all that amount of money.

Then you are not a legal LLC.

Thank you for your new year wishes.
May you live in interesting times.

Thanks for advise, I done some research on them today and it all looks ok.
'fingers crossed'.

there is more than 1 way to skin a cat in this country, as you will find out eventually.

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..