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Company Liquidation in UAE – Process Explained | Dubai | Free Zones
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What is the Company Liquidation Process in UAE for Free Zones?
What are the Steps in Closing down a Company in UAE?
How to Close down a Company in UAE Free Zone?
00:01:10 Company Closing Down in UAE –Reasons
00:01:30 Company Closing steps in UAE to follow
00:01:40 Why is Company Liquidation mandatory in UAE?
00:02:10 Contact Us for knowing about the Company closing Process in UAE
Investors will have to opt for Company liquidation in UAE when the company is unable to continue the daily business operations.
There can be instances where the company is facing losses due to several reasons. It could be such as client-side issues, lack of capital, etc.
Here is the step by step process of company liquidation in the UAE
1. Issue board resolution for license cancellation stating the reason for closure
2. Notify the licensing authority at least a month before and pay the company closing fee
3. Submit the required documents. office keys, and company closing application form to authorities.
4. Obtain all clearances from the authorities ( Free Zone, Etisalat, Emirates Post, Banks)
5. Cancel Employee Visa and clear their dues (salary, other refunds, fines)
6. Clear all outstanding due of the suppliers and prepare the Audit Report
7. Publish the advertisement in two local daily ( One in Arabic) newspapers for 45 days
8. Cancel the Memorandum of Association of the company and obtain the trade license cancellation certificate
Company liquidation is a mandatory procedure in UAE for companies closing down. Canceling the Trade license the right way will help the investors to exit and re-enter UAE hassle-free in the future.
Connect with our team to know more about the procedures of the company closing in the UAE.
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#CompanyLiquidation #UAE #Dubai #BusinessConsulting #companyformation #UAEFreezones #UAEMainland
What are the Steps in Closing down a Company in UAE?
How to Close down a Company in UAE Free Zone?
00:01:10 Company Closing Down in UAE –Reasons
00:01:30 Company Closing steps in UAE to follow
00:01:40 Why is Company Liquidation mandatory in UAE?
00:02:10 Contact Us for knowing about the Company closing Process in UAE
Investors will have to opt for Company liquidation in UAE when the company is unable to continue the daily business operations.
There can be instances where the company is facing losses due to several reasons. It could be such as client-side issues, lack of capital, etc.
Here is the step by step process of company liquidation in the UAE
1. Issue board resolution for license cancellation stating the reason for closure
2. Notify the licensing authority at least a month before and pay the company closing fee
3. Submit the required documents. office keys, and company closing application form to authorities.
4. Obtain all clearances from the authorities ( Free Zone, Etisalat, Emirates Post, Banks)
5. Cancel Employee Visa and clear their dues (salary, other refunds, fines)
6. Clear all outstanding due of the suppliers and prepare the Audit Report
7. Publish the advertisement in two local daily ( One in Arabic) newspapers for 45 days
8. Cancel the Memorandum of Association of the company and obtain the trade license cancellation certificate
Company liquidation is a mandatory procedure in UAE for companies closing down. Canceling the Trade license the right way will help the investors to exit and re-enter UAE hassle-free in the future.
Connect with our team to know more about the procedures of the company closing in the UAE.
-----------------------------------------------------------------------------------------------------------------------
// CONNECT WITH OUR TEAM
// SUBSCRIBE
New Videos Every Week!
-----------------------------------------------------------------------------------------------------------------------
//FOLLOW US:
-----------------------------------------------------------------------------------------------------------------------
// MORE VIDEOS FOR YOU
#CompanyLiquidation #UAE #Dubai #BusinessConsulting #companyformation #UAEFreezones #UAEMainland
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