Liquidation of a company in the UAE

Process

• Preparation of a notarized decision/minutes on the liquidation of a company.
• Appointment of a liquidator.
• Preparation and submission of documents to the Department of Economy and Tourism on deregistration.
• Publication of notice in two local newspapers.
• Closing of the company's corporate account, deregistration of the company from tax records, cancellation of resident visas and dismissal of employees, closing of the company's file in immigration (cancellation of establishment card) and labor (cancellation of e-signature) government agencies.
• Preparation of the report by the liquidator.
• Repayment of debts to creditors. Distribution of remaining property among the shareholders-founders.
• Preparation of the report by the liquidator.
• Filing a liquidation application with the Department of Economy and Tourism.

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Result

Once the required documents have been submitted, the company's name will be removed from the Trade Register and the Department will issue a certificate of deregistration.

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Term

On average, 3-6 months. A simplified liquidation procedure is provided for companies with one participant for the organizational and legal form (Sole Proprietorship / Establishment).

Each Free Zone has its own requirements and nuances in the company liquidation process. In general, it is similar to the company liquidation process in the Mainland, but some steps are different. For example, companies in certain Free Zones do not need to publish in local newspapers. In addition, the liquidation procedure can often be completed through an electronic portal, which is a single window of communication with the Free Zone administration.

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Term

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Depends on the specific free zone. Usually faster than liquidating a Mainland company.

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How can we help?

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We are ready to accompany the entire process of liquidation of your company on a turnkey basis, including:

• We will prepare all necessary corporate decisions and documents.
• We will appoint a liquidator.
• We will request and help collect all necessary documents and certificates from third parties.
• We will submit an application and the necessary documents to the Department of Economy and Tourism or the free zone administration.
• We will organize the publication of the liquidation notice in newspapers.
• We will coordinate the entire process and communicate with government agencies.
• We will provide you with documents on the results of the liquidation.