Company Liquidation

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Step by step process of company liquidation in the UAE

Process & Procedures of Company Liquidation in Dubai, UAE

Herald Group - Trusted partner and advisor for company liquidation in Dubai, UAE

Steps & Procedures for Liquidating a company in the UAE

  • New paper advertisement.
  • Immigration clearance.
  • Labour clearance.
  • Customs clearance.
  • Bank account closure certificate.
  • Clearance from all the Govt authorities such as RTA, Electricity & water authority and telecommunication authority, FTA, etc.
  • Submission of final liquidation report along with all other clearances.
  • Authority will issue the final cancellation certificate and remove the trade name from the commercial register.
  • Prepare the resolution for dissolution for winding up the company.
  • Appointment of liquidator.
  • Acceptance letter from the liquidator.
  • Attestation of the resolution from the notary public.
  • Submission of documents to the authority for initializing the liquidation process.

The resolution or Power of Attorney must be notarized, attested from the UAE embassy of the foreign country, and legalised by the UAE Ministry of Foreign Affairs and Ministry of Justice if the shareholders are not present in the UAE. The attestation of a Notary Public is not necessary for businesses that are registered in the majority of the Free Zones. The appointment of the company's liquidator should also be mentioned in this declaration of the resolution, together with the name of the involved liquidator and their complete address. Additionally, this procedure is not applicable when liquidating a sole proprietorship.

Documents required initially for Liquation of Company in the UAE

  • Power of Attorney if any/li>
  • Shareholders Resolution
  • Shareholders passport Copy
  • Emirates ID Copy/li>
  • Deregistration Application Form
  • License Copy.
  • Memorandum of Association Copy with all the changes

Notice Period for Liquidation of a company in the UAE

A liquidation certificate (primary) will be given once the aforementioned documents have been filed and the initial payment has been made to the relevant Authority (Department of Economic Development). The Authority issues the liquidation certificate as documentation allowing the company to proceed with the winding up of a company in the UAE.

The corporation can move forward with the advertisement that is planned to run in the newspaper after the liquidation certificate (primary) is obtained. Limited Liability Corporations and other free zone businesses, such the Dubai Creative Cluster Authority, are required to publish a forty-five (45) day notice of liquidation notice in a public journal. Four advertisements in Arabic must be issued in the case of LLC companies.

Actions to be taken during the Notice Period of Liquidation of a Company

  • Clearance letter from Electricity and Water Departments
  • Clearance letter from Telecom Authority (DU or Etisalat, etc)
  • Clearance letter from Landlord
  • Bank account closure letter
  • Clearance from the Immigration Department
  • Clearance from the Labour Department
  • Clearance letter from Electricity and Water Departments