Company Liquidation in UAE Free Zone
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Company Liquidation in UAE Free Zones
Company Liquidation in UAE Free Zone is a structured process to be followed by entrepreneurs in the event of closing down of a company. For a smooth company liquidation of a company in UAE, there are certain processes to be followed.
Company Liquidation is the process where the company or business completely closes down all of its operations, liquidates all the assets and properties of the company, and distributes any outstanding payments to its creditors and shareholders.
It is also called de-registration of the company. Aurion will help to complete the company liquidation process in all of the free zones of UAE.
To completely terminate a business or company in UAE below mentioned requirements must be followed. Requirements may vary from free zone to free zone but most of them will remain the same in each free zone.
Free Zone Company Liquidation in Dubai – Requirements
Depending on the business jurisdiction, the Company Liquidation in Dubai follows a certain process. The Free Zone company liquidation process in Dubai consists of a set of steps that the entrepreneur must follow to ensure hassle-free company liquidation in the UAE.
- The company must not have any liabilities
- All existing active visas must be canceled
- All existing corporate Bank Accounts must be closed
- Any assets at time of liquidation must be transferred to the shareholders or a third party
- All fees and charges concerning the free zone authority must be cleared
- Immigration clearance must be obtained from Free Zone Authority
- The company must prepare a resolution to liquidate and appoint a licensed liquidator to carry out the procedure
- The liquidator must approve the order of action of the company’s liquidation and send confirmation that the company has no assets or obligations/liabilities by preparing a final Audit Report/Liquidation Letter
- Clearance certificate from relevant free zone authority
- Clearance certificate from business unit
- Clearance certificate from all utilities
- Clearance certificate from any related authorities as per the regulated activity
- Clearance for customs
Company Liquidation in Dubai
Company liquidation in Dubai is a straightforward process of winding up a company due to any financial distress, unprecedented events, no enough funds to sustain the daily business operation, etc.
Entrepreneurs can get assistance for company liquidation in Dubai from expert Business Consultants. It will help in reducing the complexity of the process as well as the investors would feel more comfortable and secured to carry out the company liquidation process in Dubai.
To know more, read: Company Closing in Dubai
Aurion being the Registered Company Liquidators in the UAE will guide the entrepreneurs in liquidating the company in any of the Free Trade Zones or Mainland in UAE.
Depending on the business jurisdiction, our team will assist the entrepreneur with the right set of company liquidation procedures and ensure the company closing is 100% compliant with the regulations of UAE Company Law.
For entrepreneurs to avoid any penalty or entry ban in the future, the company closing must be carried out right away by complying with the legal regulations of UAE Free Zone jurisdictions.
Contact us for more details