Company LiquidationCompany liquidation and deregistration
Closing a company in the UAE is a formal process. A licence that is simply left to expire continues to collect fines, and its shareholders and managers can face difficulties with future licences and visas.
We manage the closure from the shareholder resolution to the final cancellation certificate, so that the company is properly struck off and nothing is left outstanding.
When a company is liquidated
- By decision of the shareholders
The owners resolve to close the business, or the term set in the memorandum of association has ended.
- Because of losses
The company has lost a substantial part of its capital and the shareholders decide not to continue.
- By court order
A court orders that the company be dissolved.
The liquidation process
- Shareholders pass and notarise a resolution to liquidate
- A registered liquidator is appointed
- The authority issues a liquidation notice, which is published for creditors
- Employee visas and work permits are cancelled and dues are settled
- Clearances are obtained from utilities, the landlord, telecoms and the bank
- VAT and corporate tax registrations are closed
- The liquidator issues the final report
- The licence is cancelled and a certificate is issued
The steps and the notice period differ between the mainland and each free zone. We will give you a written plan and timeline for your company before you begin.