Required Documents to De-register a Company in a UAE Free Zone
Documents Needed to Liquidate a Company in a UAE Free Zone
To successfully de-register a company in Dubai, the following essential requirements must be met:
- Financial Clearance: You must obtain clearance from the financial authorities of the Free Zone where your company is based. This involves getting a confirmation that all outstanding dues have been fully paid.
- Visa Clearance: You are required to cancel all visas sponsored by your Free Zone company. Afterward, you must secure clearance from the relevant government authority confirming that all visas have been successfully cancelled.
- Customs Clearance: You will need to obtain a customs clearance letter or a report confirming there are no outstanding issues from Dubai Customs.
- De-registration Fee Submission: You must submit the required fees for your company's license cancellation, which can be up to AED 6,500. Be sure to collect the receipt for this payment.
- Penalty Submission (if applicable): If your company's trade license has been expired for a significant period, you will be required to pay a fine of AED 1,000 for each month following the license's expiration. Obtain a receipt for the penalty payment.
- Newspaper Announcement: You must advertise the closure of your free zone company in the news to allow any potential creditors to come forward with their claims.
In some cases, further documentation may be required.
- You may need to attend a customer relations exit interview regarding the process of closing your free zone entity and handing over the premises.
- You must fill out the necessary de-registration form for company termination. The company owner must sign this form at the registration department and return all company documents (such as audit reports, share certificates, incorporation documents, etc.) to the same department.
- The registration department will also require a liquidation report, which you must obtain from your officially appointed auditors or certified liquidators in the UAE.
- For the licensing and leasing department, the company owner must submit the lease termination form and the de-registration form, along with the keys to the company premises.
- If you own a restaurant, shop, LIU, land, or warehouse, you will need to obtain a payment receipt or final clearance from the Dubai Electricity and Water Authority (DEWA).
- You will also need to get clearance from the RTA (Roads and Transport Authority).
- Clearance or a report on any pending matters from Etisalat will also be necessary for the cancellation of your trade license in the UAE free zone.
What Happens if a Company Loses a Certificate (e.g., Audit Reports, Share Certificates, Incorporation Certificates) in Dubai, UAE?
It is mandatory to return all valid company certificates to the registration department. Therefore, the company owner must keep these certificates in a safe place. If the owner loses any of these certificates, a letter must be submitted to the registration department reporting the lost documents. The competent authority will then apply to the Dubai Police Station to help locate the missing certificates and return them to the registration department.
Is It Possible to Freeze a Company's Business License in a UAE Free Zone?
Yes, it is entirely permissible to freeze or temporarily suspend a company's commercial activities in the UAE. This allows the business to take a break from taxation and other compliance regulations. However, this suspension cannot last for more than 3 years or less than 1 year. You must choose between a 1, 2, or 3-year period, as these are the only fixed options available for companies in the UAE.
What Happens if a UAE Free Zone Business Loses Its Premise Keys?
As it is a requirement to hand over the premise keys to the license and leasing department, the company owner must have them. In the event the keys are lost, the owner must report the situation to the license and leasing department.
The process of cancelling a trade license in Dubai is often complex, as it is layered with intricate legal formalities and protocols. To ensure a smooth liquidation process, it is highly recommended to consult with qualified liquidators. Our procedures are certified, reliable, and first-class.
De-registering a Company in a Dubai Free Zone