Who are LLC and Free Zone Company Liquidators and What is LLC (limited liability company) and Free Zone Company Liquidation process (winding up operations, trade license cancellation, voluntary liquidation, finishing up business) in Dubai, Abu Dhabi, Sharjah, Ras Al Khaimah, Ajman and UAE. How to close or wind up a company? How to terminate license in (termination of license) Dubai and other emirates of UAE?. Key terms used to describe the above are Trade License Cancellation in Dubai, License Cancellation (Sole Establishment), Winding up foreign companies in the UAE, Cancellation of Commercial License, License Cancellation in Dubai.
Dawn Consultancy is approved Auditor and Legal Liquidator from all free zones and economic departments in UAE . We are also legal liquidators for the mainland LLC companies in all the emirates. We are expert in all legal and regulatory issues concerning the liquidation of a company and have executed more than 100 company’s liquidation jobs in UAE under the direct supervision of our Partner and CEO. Dawn Consultancy working methodology / work approach will cause minimal disruption in your routine work. We will arrange for all the departmental clearance certificates, handle banking issues, labour and immigration clearance and any other requirements. Please send us the company legal documents so that we can check them and advise you accordingly.
Dawn Consultancy services will include the following:
• Preparation of legal documents
• Preparation of Company board resolutions
• Liquidators appointment acceptance
• DED application and submission
• News paper advertisement for Company liquidation notice
• Arrange clearance letter from DEWA
• Arrange clearance letter from Etisalat
• Arrange clearance letter from Municipality
• Arrange clearance letter from Custom
• Bank account closure and Bank No liability Certificate
• Audit for the financial statements for liquidation of company
• No Liability certificate
• Employees visa cancellation
• Labour card cancellation and clearance certificates
• Immigration card cancellation and clearance certificate
• Liquidation report preparation and submission
• Final cancellation letter
• Partner Visa Cancellation
In short, only you have to appoint us a liquidators of your company and our experts will give you license cancellation certificate.
WHAT IS LIQUIDATION?
Liquidation is the method by which a LLC company (or a part of a company), sole establishment, Dubai free zone company or institution closes its operation and therefore the assets and property of the corporate or institution is distributed to creditors and shareholders (owners) of the UAE registered Company. Liquidation is additionally known or noted as winding-up or dissolution, though dissolution theoretically refers to the ultimate steps of liquidation process. The liquidation of company in Dubai, UAE becomes inevitable when a corporation don’t have liquid funds to hold on day to day transaction of the company, creditors aren’t being paid or company commits some serious offense, and a regulatory authority or agency in UAE of Free Zone Authority accountable for the relevant sector files a suit for the effecting the operations of the corporate.
Liquidation could either be compulsory (sometimes noted as a creditors’ liquidation) or voluntary (sometimes noted as a shareholders’ liquidation, though some voluntary liquidations are controlled by the creditors).
Following are procedures and documents details that are required and presented to Dubai Economic Department or Economic Departments in other emirates or Free Zones Authorities in Dubai.
Requirements of Cancellation for Companies in UAE Free Zones like JAFZA, DMCC, JLT, TECOM, DAFZA, Hamriyah, RAK, DSO, Dubai SME,
• Resolution from Board for liquidating the corporate and appointment of liquidator
• Immigration and labour departments clearance from free zone authority. All Visas ought to be cancelled and cleared.
• Liquidation letter by registered auditor for FZE & FZCO solely to be submitted
• All fees and charges are to be settled with the free zone.
• Clearance Certificate from free zone authority (For corporations transferred from free zone) to be submitted.
• Clearance Certificate from Business Unite (NOC).
• Clearance Certificate from CLD Government section
• Original License
Above mentioned procedures and necessities are common in the majority the free zones of UAE, However, requirements are continuously changing and might vary from one free zone to the opposite.
Process for Cancellation/Liquidation/Winding up of LLC license in Dubai, Abu Dhabi, Sharja, Fujairah, Ras Al Khaima (RAK) or Ajman underneath Main Land native Law and Appointment of Liquidator for liquidation of company
LLC Companay Liquidation in General
• Pass and notarize Board Resolution to liquidate/cancel/ wind up operation of LLC company and appoint liquidators
• A letter from the appointed liquidator who accepts his appointment as company liquidator to liquidate the company in Dubai or Abu Dhabi
• Get Registration & Licensing Application type (Form No. BR/1) from Economic department of the Emirate (Dubai or Abu Dhabi, Sharjah, Ajman, Ras Al Khaimah)
• Bring Company’s Original License and different legal documents.
• Letter (Release letter) from the property owner in favor of the licensees apart from GCC nationals.
• Apply and find No-objection letters from (DEWA, FEWA, DU/ETISALATE, ministry of labor & immigration and RTA)
• Bank account closure certificate and no liability certificate for company liquidation in Dubai
• Shareholders resolution to dissolve the businesses from the Public Notary (for L.L.C companies)
• Company Dissolution letter from the Economic Development Department (DED).
Branch of a corporation Registered in Dubai, different Emirates or Foreign Company
• Board Resolution from Parent Company for liquidation of the Branch office (notarized)
• Bring with you Original License
• Bring Original Certificate of Registration within the industrial Register (if the pinnacle workplace is registered in Dubai)
• Apply and find No-objection letter from (Bank, DEWA, FEWA, DU/ETISALATE, ministry of labor & immigration and RTA)
Cancellation of business Company’s (LLC) registration Dubai
• Notice of company’s dissolution & Appointment of company’s legal liquidators (Approval from Legal Department)
• Get Registration & Licensing Application type from Economic Department of the Emirate within which company is registered
• Copies of official documents showing dissolution of the corporate and correct appointment of a legal liquidator and mentioning his/her name and determining the strategy of liquidation. this could either be by a resolution of the company’s shareholders or board of shareholders duly notarized or by court order.
• Certified copies of the signatures of company director(s), and therefore the company’s appointed legal liquidator, because the case could also be, legitimated by the Notary Public.
• Original Certificate of Registration within the industrial Register + the first trade license.
• Copies of the skilled license of the liquidator and Certificate of No liability by auditor and letter from the liquidator approving the liquidation of the corporate
Cancellation of licenses and cancellation from the industrial Register
• Certificates issued within the different Emirates indicating cancellation of license(s) (if any).
• Original copy of the ultimate accounts of liquidation approved by the partners or general assembly and stamped by the legal liquidator.
• No-objection letter regarding cancellation issued by the Ministry of Labour & Social Affairs.
• Visa Cancellation of the partner(s) in case they’re sponsored by their license.
• Copy of the notice of the company’s dissolution & appointment of a liquidator to be printed in 2 of the native newspapers.
• Letters from the partners for the agreement of the liquidation of the corporate.
We are expert in all legal and regulatory issues concerning the liquidation of a company and have executed many company’s liquidation jobs in UAE under the direct supervision of our Partner and CEO Mr. Mashal. Our working methodology / work approach will cause minimal disruption in your routine work. We will arrange for all the departmental clearance certificates, handle banking issues, labour and immigration clearance and any other requirements. We are approved liquidators for all the following free zones in UAE.
Jumeirah Lakes Towers (JLT Free zone), Dubai Multi Commodities Centre (DMCC Free zone), Economic Zones World (EZW) – includes Techno Park, Dubai Auto Zone, JAFZA International, JAFZ, Jebel Ali Free Zone (JAFZ), Dubai Aid City, Dubai Auto Parts City, Dubai Silicon Oasis, DSO, Dubai International Financial Centre (DIFC), Dubai Maritime City, Dubai Technology and Media Free Zone (TECOM) – includes DIC, DMC, DKV, Dubai Biotechnology & Research Park (Dubiotech or Dubai Biotech), Dubai Internet City (DIC, Dubai Knowledge Village (KV) (DKV), Dubai Media City DMC, Dubai Outsource Zone (DOZ), Dubai Studio City – Dubai land, Dubai Techno Park (TP), International Media Production Zone, IMPZ, Dubai Health Care City (DHCC), Dubai Industrial City (DIC), Dubai Airport Free Zone (DAFZ), Dubai Car and Automotive City Free Zone (DUCAMZ), Dubai Flower Centre Free Zone – at Dubai International Airport, Dubai Gold and Diamond Park, Dubai Gold and Commodities Exchange (DGCX), Dubai Carpet Free Zone – Deira, Dubai International Arbitration Centre (DIAC), Dubai Textile Village – Al Awir, eHosting Data Fort, Heavy Equipment & Trucks Free Zone, Mohammad Bin Rashid Technology Park – Jebel Ali Area.
Abu Dhabi Airport Free Zone (ADAFZ), Higher Corporation for Specialized Economic Zones (HCSEZ), Industrial City of Abu Dhabi (ICAD 1 and 2), Khalifa Port and Industrial Zone (KPIZ), twofour54 (Two Four Fifty Four / 54) media and production free zone.
Ajman Free Zone (AFZ), Fujairah Free Zone (FFZ), Fujairah Creative City, – Hamriyah Free Zone, Sharjah Airport International Free Zone (SAIF), Ahmed Bin Rashid Free Zone (ABRFZ).
RAK Free Trade Zone (RAKFTZ or RAK FTZ), RAK Investment Authority Free Zone (RAKIA FZ), Ras Al Khaimah Media Free Zone (RAKMFZ), RAK Media City, RAK Centre for Business Excellence or RAK Training Centre for Business Excellence, RAK Education Zone, RAK Financial Centre, RAK Industrial and Technology Park.
For further details and queries, please feel free to contact us.
Tel: +971 55 4411036
Fax: +971 04 3589966
Cell: +971 55 4411036