How to Liquidate a Company in Dubai & UAE ?
The first thing to do in de-registering a company is to designate a liquidator firm. Only approved liquidators can be hired to start the liquidation procedure as defined in official regulations. The firm who offer company liquidation services helps in closing the company operations in compliance with UAE company laws.
A company can be dissolved voluntarily or forcefully by authorities when it can no longer be able to pay its liabilities.
UAE Company law states two types of company liquidation method:
- Voluntary Liquidation
- Compulsory liquidation
Procedure of Liquidating the Limited Liability Company (LLC) in UAE
Dissolving/Winding up an LLC Company involves the following major stages:
- BoD Meeting
Minutes of a meeting of the board of directors declaring to liquidate the company and appointment of regulated liquidator. This document must be attested by Notary Public.
- Application for liquidation
Submission of liquidation form along with fees to be submitted to the Department of Economic Development to get the company liquidation certificate
- Advertisement in the newspaper
Place an advertisement in a local Arabic newspaper to announce the dissolution of a company
- Official letter from liquidator
A confirmation letter from the registered liquidator stating to accept the responsibility to liquidate the company
- Notice period
45 days grace period will be given from DED to wait for the creditors or clients if they have any financial claims on the company
- Final Liquidator’s report
The liquidator will submit final company audit report and a letter stating that there is no claim from the third party/Client/Creditors during the 45 days ad period
- Visa Cancellation
Cancel visa of all employees & partner and obtain NOC from the Ministry of Labour, Ministry of Immigration, DEWA & Etisalat/Du
- Final Liquidation Certificate
After submitting all the documents, DED will issue a final company liquidation Certificate.
Specialist in DCCA and JAFZA Liquidation
We are one of the authorized firms to act as a liquidator of the free zone & limited liability companies outside free zones in all emirates. When it’s time to put an end to your relationship with Limited Liability Company (L.L.C), Free Zone Entity (FZE) or offshore entity in Jebel Ali Free Zone or RAK offshore or to terminate the license or deregister it voluntarily for distinct reasons, then A & A Associate gives you a helpful hand to act as a liquidator.
We very well understand that the consequences as an investor or manager you may face to deregister an entity and fully guide and support you to complete the process hassle free. There is numerous way that we can get to you to deregister or terminate the license process.
We can guide and assist you at every single stage and manage the process in your absence.