Dubai Free Trade Zone - Help Pls.

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dubai free trade zone - help pls. Jul 05, 2007
Hello all,

I'm in a dilemma. A friend of mine is in Dubai. I live in US. He ask me to do a favor. He wants to setup a consultancy business in Rak free zone in Dubai. In order to get a license to operate his consultancy business in the rak free zone, he needs a business degree which he doesn't have, but I do. According to him, he can appoint me as manager of his business and use my background to get the necessary license.

The dilemma is this. First, I have send a copy of my passport info and business degree to Dubai's rak free zone office. I've never been to that part of the world and honestly, don't understand much about that area. I'm completely naive as to how safe it is to send my info to even official offices at Dubai? is it safe? is there any risks that my info will be used for fraudulent purposes. I'm apologize to all if I sound ignorant, but I just want to be extra safe. I like to help my friend but I think this may be too much to ask for??

Secondly, my friend said that although I will be appointed as manager, he will draft legal notices stating that I will not bear any responsibility for his actions (he will be sole director and shareholder of the firm). I'm not in Dubai and can't see what he is doing, and I'm not sure if any problems in his business will fall back on me? even with this legal letter he propose to draft. After all, the fact that Dubai's regulation requires someone like me to be part of his business suggests that there could be legal liabilities going forward?? Unfortunately, my requests for clarification to customer service at the rak free zone hasn't been replied yet so that is another negative..lack of responses from the official department.

Bottom line is I do trust him to a degree and I like to help him (sort of returning a favor) but is this too risky??? Thanks in advance to anyone who is familiar with this process and advise me of my decision.

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