Trade license cancellation is the most important part of company liquidation in Dubai or UAE. Companies need to liquidate when they do not have enough funds to continue daily operations, to pay their employees or service their debt. Liquidation also becomes inevitable when a company commits a serious offense or corporate fraud and UAE business regulatory agencies begin investigating and find violations, or when the company gets a legal notice that affects its regular operations. For company liquidation in UAE, trade licenses need to be cancelled. Once the business license is cancelled, the same one cannot be re-activated. For trade license cancellation, you need to submit various documents and get different approvals from the government and federal agencies, depending on the type of business license you hold.
Shuraa Business Setup gets you the quickest, most reliable and affordable company liquidation services . Our experts are registered with UAE regulatory agencies and work with approved auditors and legal liquidators for mainland limited liability companies as well as free zone companies in UAE. We arrange for all the government clearance certificates, handle your banking and also help with labour and immigration clearance documents. In case of professional and industrial companies, we get the final cancellation letter for your trade licenses as well as expired licenses. Over 15 years, we have aided in liquidating several companies and are well-versed with all legal and regulatory issues for company liquidation in UAE. Shuraa Business Setup consultants will be happy to assist you during the process of company liquidation, in a cost-effective manner.
LLC Company Liquidation process: For LLC company liquidation, the company board needs to pass and notarise a resolution, detailing the intention to liquidate the company and also needs to appoint liquidators. The company personnel will also have to get no-objection letters from the company sponsor, Dubai Electricity and Water Authority, Etisalat UAE, Ministry of Labour and Immigration as well as Road and Transport Authority. You will also be required to get the bank account closure certificate and a no-liability certificate, for company liquidation in Dubai. Besides this, limited liability companies will need to get a shareholders’ resolution, to dissolve the businesses, notarised from the public notary and procure a company dissolution letter from the economic development department.
Shuraa Business Setup’s UAE Company Liquidation Services:
Our legal team prepares the paperwork for company liquidation
We help you prepare the company board resolutions
We connect you with liquidators
We submit all the necessary documents to DED and get the company dissolution letter from the department.
We put the company liquidation notice in a newspaper
We get the clearance letter from Etisalat
We get the clearance letter from Dubai municipality
We get the clearance letter from the customs department
We help you close your bank accounts and get the no-liability certificate
We get your financial statements audited for company liquidation
If we sponsor your company, we provide the no-liability certificate
We get your employees’ visas cancelled
We help you get your investor and partner visas cancelled
We get your employees’ labour cards cancelled
We prepare the liquidation report and submit it to the department concerned.
In case of professional trade licenses and expired licenses, we get the final cancellation letter.