The Ras Al Khaimah Economic Freezone (RAKEZ) is an investor-friendly destination when it comes to company formation in the UAE. The RAKEZ Freezone currently hosts more than 14000 companies from 100+ countries.
Company formation in RAKEZ is spread out across 5 Economic Free Trade Zones for various industrial activities. The RAK Economic Freezone is the ideal location for businesses that look for a specialized Freezone for their industries to set up.
RAKEZ is an industrial hub and powerhouse that offers customizable solutions to the investors. The Freezone houses large industrial plants, SMEs, startups and also freelancers. There are various company registration packages available in RAKEZ for the investors to explore.
Company liquidation or winding up of a company is when the operation of the company is terminated and the trade license is canceled. The company is no longer eligible to operate its business in the designated region.
Due to the non-profitable stage of the business and falling short of liquid funds to sustain day to day transactions, and hefty outstanding payments or the company committing any serious offense and not adhering to the regulatory authorities are few reasons for winding up of the company.
Company Liquidation is more of a compulsory or voluntary process from the company owner’s. Company liquidation in UAE, Dubai is a well-structured and relatively detailed process that is best to be executed with the assistance of an expert Company Liquidators.
Aurion Business Consultants offer Company Liquidation Services for companies registered with the RAKEZ Freezone as well as other Freezones in the UAE (Hamriya Freezone, Sharjah Airport Freezone, etc.), Offshore and Mainland locations.
Our expert consultants will assist you in Trade License Cancellation in Dubai, License cancellation in Freezone (RAKEZ, SAIF, etc.), legal formalities, obtaining required clearances from the Freezone authorities in the UAE, Labour & immigration clearances, bank account cancellation in UAE and many more.
When it comes to company liquidation in Ras Al Khaimah Freezone, there are few documents required for the trade license cancellation.
Before canceling the trade license and winding up the company, the company has to pass a resolution for winding up of the company in the shareholders meeting. There is no requirement of Notarization of the resolution for dissolution (winding up) in case of Freezone registered companies.
In addition to the documents indicated above, the following clearances are to be obtained from concerned authorities for the cancellation of the trade license of your company.
The requirements for company liquidation are continuously changing depending on the Freezone authorities. Hence, on a case to case basis, the authority will inform to obtain necessary clearances if required.
Once the above documents are submitted along with the initial payment to the concerned Authority (Freezone Jurisdictions, Department of Economic department), a liquidation certificate (primary) will be issued. It acts as documentary evidence from the concerned authority and enables the company to proceed with the procedures for winding up of the company
After receiving the liquidation certificate (primary) the company can proceed for advertisement in the newspaper. It requires a 45-day notice of liquidation advertisement in a public newspaper for sharing the news of company dissolution with the public.
After completion of the notice period, the liquidation report (all supporting documents, primary license,) and the copy of the newspaper advertisement to the concerned authorities. post their review and the final payment of the license cancellation fees, the final certificate/license cancellation certificate will be issued.
We have a specialized team that handles Company Liquidations across the Freezones, Offshores, and Mainland in the UAE. With 12+years of experience and liaising with Government Authorities on a regular basis, our team is well aware of the recent government regulations and policies.
With the professional assistance from the expert Business Consultants at Aurion Business Consultants, the Company Liquidation process will be a hassle-free one. Get expert advice by reaching out to us right away!
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