In the case of a company shutdown, this is the procedure to cancel a trade license in the UAE. For non-renewal fines to be avoided, a number of processes must be followed to lawfully wind up a company, which may be very exhausting at times. In the meanwhile, we can ensure a clean finish while taking care of this issue with little participation from the client. It’s important to us that you settle your debts and earnings with creditors and partners so that your goodwill and company reputation may be preserved. We also anticipate the potential of resuming your firm in the near future.
Company Liquidation Services in Dubai
Cancellation of a business license requires certain paperwork.
For sole proprietorship’s and businesses, the cancellation processes are the easiest. All you have to do is submit the following papers to DED in order to request cancellation:
- NOC from Directorate of Residency and Foreigners Affairs
- NOC from Ministry of Human Resources and Emiratization
- NOC from Local Services Agent
The cause for the liquidation is explained in a letter.
Before completing with DED, businesses having shares must do additional procedures such as liquidating shares, collecting debts, and paying off creditors. The following types of businesses need the appointment of a liquidator:
- General Partnership
- Simple Limited Partnership
- Limited Liability Company
- Private Joint Stock Company
- Public Joint Stock Company
