Are all usual rigmaroles and high costs associated with the liquidation of your business excruciatingly cumbersome to bear? Do you want to close down your business in a trouble-free manner? All your painful queries regarding liquidation of businesses in Dubai are answered here at KWS-ME because we can help you shut down your business without worrying too much about your liabilities and financial losses making a hole in your pocket.
Armed with a team of highly professional individuals, we at KWS-ME strive to give you the best possible professional guidelines for reducing your legal costs and financial fatalities accruing from the cancellation of license in Dubai. Our professional expertise and insights would let you sit calmly through the liquidation process while we liaison and coordinate with concerned authorities to ensure an unobtrusive closing down of your business.
There are many things to be taken into consideration before closing down a business such as cancellation of the business name, accrued salaries of employees, cancellation of taxation registrations and other associated legal quirks. Sometimes, it is imperative for you to weigh up all your available options before deciding to wind up the business operations.
We always give our best suggestions to those who wish to liquidate their businesses. We offer consultancy services on liquidation, statutory liquidation, or deregistering the business etc. We inform our clients and give them complete guidance about the legal and financial ramifications associated with each option. If the company is interested in selling off the business to a third party, we also help in finding the right buyer.
At KWS-ME, we believe, it is our utmost responsibility to make you understand all the different phases of liquidation, such as:
- Preparation of Business liquidation
- Owner’s Responsibilities
- The Cost of Dissolution
- Insolvency and Bankruptcy
- A detailed review of all compliances.
Liquidation of a business often involves annoyingly nerve-racking processes. Thus, KWS-Me advises you to hire its specialist advisors who can give you all the information and help you need to close down your business with ease. Feel free to contact us.
Liquidation of a business occurs when a company winds up or dissolves or brings its operations to a close, and then its assets and properties are divided up among creditors, shareholders and owners of the UAE registered company. Liquidation can either be compulsory or voluntary. In all scenarios of liquidation, KWS-ME offers the best advice and services you need for liquidating your business.
Necessary Documents For A Free zone company Liquidation
- Appointment of a liquidator
- Board resolution for liquidating the corporate
- Getting clearance from the Immigration and Labour Departments of Free Zone Authority
- Cancellation and clearance of all visas from the Immigration and Labour Departments
- Submission of Liquidation Letter
- Clearance Certificate from free zone authority
- Clearance Certificate (NOC) from Business Unite
- CLD Clearance Certificate from Government section
- Original free zone company license
- All fees and charges to be settled with the free zone
These required procedures and documents are accessible in most of the free zones of UAE but the requirements and costs may experience changes as you move from one free zone to another.
Necessary Documents for LLC Company Liquidation
- Appointment of liquidator
- Notarized board resolution for the dissolution of LLC Company.
- Appointed liquidator’s acceptance letter of his appointment.
- Registration & Licensing Application (Form No. BR/1) from the Economic department of the Emirates.
- License of the company and other associated legal documents.
- Property owner’s Release letter
- Obtain NOC letters from ministry of labour & immigration and RTA.
- Certificate from the bank for the closure of company’s bank account and its liabilities situation
- Resolutions by shareholders to dissolve the businesses from the Public Notary
- Letter of Company Dissolution by Economic Development Department (DED)
Documents required for dissolution of Branch
- Notarized Resolution by the board of Parent Company for liquidation of the Branch office
- Original License
- NOC from the bank, ministry of labour & immigration, and RTA
Documents required for cancellation of industrial unit
- Certificates indicating cancellation of company’s licenses issued by Emirates in which the company operated
- Accounts Liquidation certificate attested & approved by partners and liquidator
- NOC indicating cancellation issued by the Ministry of Labour & Social Affairs.
- Certificate(s) highlighting visas cancellation of the partners in case they were sponsored by their license
- An ad placed in at least 2 local Newspapers notifying dissolution of the company and appointment of the liquidator
- Letter of Agreement or Consensus for the liquidation/dissolution of the company.