Company Liquidation Services In Dubai
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Leading company Liquidation services in Dubai,UAE
The process of liquidating a business can often be complex and daunting. At our company, we are committed to providing valuable guidance and recommendations to individuals seeking to liquidate their businesses.
Liquidation occurs when a company winds up, dissolves, or concludes its operations, and its assets and properties are distributed among creditors, shareholders, and owners of the registered company in the UAE. Our primary objective is to offer expert advice to minimize your legal costs and financial losses associated with the cancellation of your license in Dubai.
Please note that the liquidation process and related regulations can vary, so it is advisable to consult with our experts for tailored guidance and support specific to your business’s circumstances. Our team is dedicated to assisting you throughout the liquidation process, ensuring a seamless transition and minimizing any potential complications or financial liabilities.
Required Documents for Free Zone Company Liquidation Services in Dubai
To initiate the liquidation process for a free zone company, the following documents are typically required:
- Appointment of a Liquidator: A formal appointment letter or resolution designating a liquidator to oversee the liquidation proceedings.
- Clearance from Immigration and Labor Departments: Obtaining clearance certificates from the Immigration and Labor Departments of the Free Zone Authority, confirming that there are no pending visa or labor-related obligations.
- Board Resolution for Liquidation: A board resolution or decision by the company’s shareholders approving the decision to liquidate the company.
- Original Free Zone Company License: The original license issued by the Free Zone Authority for the operation of the company.
- Cancellation of Visas and Work Permits: Cancellation of all employee visas and work permits associated with the company, along with clearance certificates from the Immigration and Labor Departments.
- Submission of Liquidation Letter: A formal letter addressed to the Free Zone Authority, stating the intent to liquidate the company and providing relevant details.
- Clearance Certificate from Free Zone Authority: Obtaining a clearance certificate from the Free Zone Authority confirming the fulfillment of all financial and administrative obligations.
- CLD Clearance Certificate: Clearance certificate from the government section responsible for Companies Liquidation Department (CLD) procedures.
- Settlement of Fees and Charges: Settling any outstanding fees, charges, or liabilities with the Free Zone Authority, if applicable.
Note: The above procedures and document requirements are generally applicable in most UAE free zones. However, it is important to be aware that prerequisites and fees may vary when moving from one free zone to another.
Required Documents for LLC Company Liquidation in Dubai
To initiate the liquidation process for an LLC (Limited Liability Company), the following documents are typically required:
- Appointment of Liquidator: A formal appointment letter or resolution designating a liquidator to oversee the liquidation proceedings.
- Notarized Board Resolution (BR): A notarized board resolution issued by the shareholders of the LLC, stating the decision to dissolve the company.
- Acceptance Letter of the Appointed Liquidator: A letter from the appointed liquidator acknowledging and accepting their role in the liquidation process.
- Registration & Licensing Application (Form No. BR/1): An application form obtained from the Economic Department of the respective emirate, which confirms the intention to dissolve the LLC.
- LLC Company License and Legal Documents: The original LLC company license, along with any other associated legal documents related to the establishment of the company.
- Property Owner’s Release Letter: If the company owns any property, a release letter from the property owner stating that all obligations and liabilities have been settled.
- No Objection Certificates (NOCs): Obtain No Objection Certificates from the Ministry of Labor & Immigration and the Roads and Transport Authority (RTA).
- Account Closure Letter from the Bank: A letter from the company’s bank confirming the closure of all accounts related to the LLC.
- Resolutions by Shareholders: Resolutions by the LLC’s shareholders to dissolve the business, which need to be notarized by a Public Notary.
- Company Dissolution Letter by Economic Development Department (DED): A dissolution letter issued by the Economic Development Department (DED) confirming the completion of the liquidation process.
It is important to note that specific requirements and procedures may vary depending on the jurisdiction and applicable regulations
Required Documents for Dissolution of a Branch Office
- Notarized Board Resolution (BR) of Parent Company: A notarized board resolution issued by the parent company, explicitly stating the decision to liquidate the branch office.
- Original License: The original license issued to the branch office by the relevant authority.
- No Objection Certificates (NOCs): Obtain No Objection Certificates from the bank, Ministry of Labor & Immigration, and the Roads and Transport Authority (RTA). These certificates confirm that the branch office has fulfilled its obligations and there are no pending liabilities or concerns.
Required Documents for the Cancellation of an Industrial Unit
- License Cancellation Certificate: A certificate issued by the relevant Emirates authority where the company operated, confirming the cancellation of the industrial unit’s license.
- Accounts Liquidation Certificate: A certificate attested and approved by the partners and liquidator, indicating the completion of the accounts liquidation process.
- No Objection Certificate (NOC): An NOC indicating the cancellation issued by the Ministry of Labor & Social Affairs, confirming that there are no pending obligations or liabilities related to the industrial unit.
- Visas Cancellation Certificate: A certificate highlighting the cancellation of visas for the partners, if they were sponsored by the industrial unit’s license.
- Newspaper Advertisement: An advertisement placed in at least two local newspapers, notifying the dissolution of the company and the appointment of the liquidator.
- Letter of Agreement for Dissolution/Liquidation: A formal letter of agreement signed by the partners or relevant stakeholders, outlining the dissolution and liquidation process of the industrial unit.
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