This procedure is inevitable when a firm runs out of liquid funds to hold their daily operations and day to day transactions; commits some illegal offense; beneficiaries aren’t getting their payments; or the regulatory agency and authorities file the law suit against the corporation which can affect the working and operations of the establishment.
The company closure in Dubai can be of 2 types
- Voluntary (shareholder’s liquidation)
- Compulsory (creditor’s liquidation)
PRO Desk undertakes the closing of your business and serves you through all steps of documentation and cancellation. Before terminating operations and trade license annulment, it is mandatory to settle all the utility and telecommunication bills, get the approval and certificates from ministries and government departments, seal the bank account, withdraw all the employees’ visas, and arrange the final report of audit. Thus the process is quite complicated and requires hours to stand in the queues. You can easily simplify the progression and save additional cost by hiring PRO Desk expert team for company closure in Dubai.
LLC Shutting
A liquidator should be appointed by Director Board which is formed for the dissolution and attested officially from Notary Public. Termination of existing employees with two months notice period is necessary for company closure in Dubai.
- Letter provide by Liquidator
- Auditor Registration Certificate
- License Copy
- Authorized certificate attested and verified by Notary Public
- Fee payment at DED to get the certificate of company liquidation
- 2 Advertisement of liquidation in local Arabic Newspapers and wait for at least 45 days prior to cancellation for financial claims by any person against the company
- Original Ad in newspaper presented with the company’s final audit report to the Department of Economic Development
- Partners and Liquidators confirmation that there is no arguement or objection against the company by any client during Ad period
- Partner visa cancellation
- Clearance letter from Etisalat, DEWA, and Ministry of Immigration and Labor
- Copy of certificate of liquidation and Director Board resolution
- Fess submission at DED
Closure of Sole Establishment
- Typed form of Labor Establishment Card Cancellation grant by Tas’heel Center
- Authorized signature and seal of the organization should be present on the application which you have to provide at Labor office branch. It will issue a NOC by applying a stamp on the submitted application. This cancellation form should be prepared even if your firm didn’t have a Labor Establishment Card
- Type form for license cancellation, prior to company closure in Dubai; get the signs of the owner and duly present it at Department of Economic Development
- Pay the fee at DED for cancellation
- A file number will be issued by Economic Department. Take it to the Protective Systems Department and get Police authority clearance. An electronic verification will be generated by Police department to DED upon not finding any violation in records
- Annulment payment submission to DED
This certificate along with an original card of Immigration Establishment and request letter in Arabic will be submitted to Jaffliya Immigration Head office. If you have lost this card, you have to go to the Police to get record of loss. For this, request letter is required in Arabic and you will get the document within 2 days
