Consider two expressions
It is possible that by the time I come back next year, the company has either shut down or has been taken over.
It is possible that by the time I come back next year, the company will have been taken over or will have shut down.
Since term of your deposit is so long, it is possible that by the time it completes,it has/will have actually depreciated in value due to inflation.
Should I use present or future perfect tense in this expressions? Or Are both of them correct here?