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CLOSING COMPANY IN MAINLAND

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CLOSING COMPANY IN MAINLAND

Closing a business is one of the toughest decisions you make as an entrepreneur. Apart from the emotional side of shutting down the company, it is a difficult and multi-step process that will take up your valuable time and money.

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General Procedures For Closing A Sole Proprietorship in Dubai


How to get the trade license cancellation certificate?


  • ✓ Carefully fill in the registration and licensing application form with the help of an approved liquidator.

  • ✓ Copy of your trade license

  • ✓ Cancel the establishment card

  • ✓ Submit the applications to get approvals related to your business activities.

Closing a branch in Dubai


How to get license cancellation certificate for a specific branch of your company?

  • ✓ Fill it the registration and licensing application through a valid channel.
    ✓ Cancel the establishment card.
    ✓ The Parent company must produce and attest the document proving its decision to close the branch.
    ✓ Obtain relevant approvals that are specific to your business activity.
    ✓ Get the official approvalfrom the Ministry of Economyfor cancelling your branch.

Closing a civil company in Dubai

  • ✓ Fill in the registration and licensing application form
    ✓ Cancel the establishment card.
    ✓ Cancel the visas of the company's foreign partners that are sponsored by your company.
    ✓ Get all relevant approvals from the authorities concerned.
    ✓ Draft a partnership cancellation contract that is attested by a notary public or the court of the state.

How to close all forms of companies in Dubai?


Stage 1:Prepare For Dissolving a Company and Appoint a Licensed Liquidator

  • ✓ Write notarized minutes of the shareholders’ meeting to legally confirm the company’s decision to liquidate.
    ✓ The notarized minutes must include the details of theappointment of a licensed company liquidator.
    ✓ Submit the liquidation offer acceptance letter from the liquidator.
    ✓ Submit all the relevant details or credentials related to the liquidator company.
    ✓ Fill in the registration and license application form.
    ✓ At DED, a legal advisor will analyze all the documents submitted by your company and will approve the decision to appoint the liquidator.
    ✓ Payment voucher will be issued.
    ✓ After the payment, dissolution documents will be issued.
    ✓ Advertise the liquidation of your company in two local newspapers (both in Arabic).

    Please note that the advertisement shall give the public 45 days to raise their complaints.

Step 2: General Procedure for Removing your Company from the Register


  • ✓ Submit the final report of your company.
    ✓ Submit the Declaration Letter from the shareholders/ partners and the company liquidators that no other parties had raised any complaints within 45 days of announcing the company dissolution.
    ✓ Cancel the establishment card
    ✓ Cancel the visas of all foreign partners.
    ✓ Get all the relevant approvals from the authorities
    ✓ Private shareholding companies must secure the Ministry of Economy's approval to cancel your company license.
    ✓ For publication, Public shareholding companies must secure the approval of the Securities and Commodities Authority to cancel your company's license.
    ✓ After the submission of all the above-mentioned documents, secure the approval of the DED legal advisor.

    Please note: a payment voucher will be issued. After the successful payment of the Deregistration fees, your company will receive the deregistration certificate.

How to close businesses established in the free zones?


Generally, the closure of businesses falls under three categories:


  • 1. Summary winding up: Either the company has no existing liabilities or it has the potential to solve its liabilities within a period of six months and move on with solvency.
    2. Creditor winding up: Company issues a resolution to shut down its operations, which is immediately followed by an investor meeting.
    3. Bankruptcy: This type of closure is initiated by the court under UAE federal law (18) of 1993.

We Make It Easy For You


Helen and Sons Consultancy, the best Consultancy Company in Dubai,with its team of experts frees up your mind by helping you navigate through the procedural challenges of closing a business.