How to Liquidate your company?

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Company Liquidation



If you want to close your business, here is the procedure.

We are doing Liquidation Procedure Mainland Company, offshore, and Free zones.

The procedure is different from Emirates to emirates and Mainland to Free zones.

Steps:

1.       You are deciding to close your business, and then arrange the Board meeting with your partners and take final decision for liquidate the company.

2.       Type the Board Resolution and Translate it by Legal translator, then all Partners need to go Dubai court and notarize it. Prepare POA, if any partner not in UAE and unable to attend the Dubai court for signing. The POA attested by partners home country and MOFA in UAE.

3.       If the company is Branch of Foreign company, Prepare Board resolution from their home country and attest and notarized it, after that attest to MOFA, Dubai.

4.       Appoint Liquidator

5.       Type the De-registration application and signed by all the partners.

6.       Cancel all employees’ labor cards and labor file.

7.       Cancel all employees’ visas and Immigration file.

8.        Prepare Request letters to get Clearance from Customs, RTA, Finance department, DEWA, Lease & License department.

9.       External clearance also required, its depends on your Business activity.

10.   Apply your employees bank guarantees refund.

11.    De-registration of your company bank account and take Clearance letter from the Bank.

12.   All your company original documents required, in case if you lost your company original documents (License, share certificate, AOA, MOA) prepare request letter to respective authority. You need to get Police letter for lost your documents.

13.   All the documents submit to the De-registration section along with Audit financial statement and pay the required fee.

14.   Most of the free zones , they will advertise them self-two Arabic newspapers and wait for 14 to 21 days its depends on  Free zone  to free zone.

15.   Mainland companies you will give the advertisement two local Arabic newspapers and wait for 45 days.

16.   After 45 days (Mainland companies) you can submit all documents along with Audit financial statements, Newspaper advertisements, and labor and immigration clearance and external clearance also required , its depends on your business activity.

 This Blogger is written by Reddys Management Consultants

 

 

Mobile /WhatsApp: +971 56 717 9890

Email: reddysconsultancy@gmail.com

http://reddysconsultancy.blogspot.com

Website: http://reddysconsultants.com

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