Since you have taken the excruciating choice of exchanging your organization, it’s an opportunity you start thinking responsibly and break down your organization as per the rules that everyone must follow. Company Liquidation in Dubai is a long dreary and antagonistic process, including filling of horde application, starting the re-enlistment process and consulting with representatives and a few government offices. To get free, you require proper finishing of application frames, careful deregistering of authentications from different government offices.
Steps to Liquidation of a Free Zone Corporation Deregistration
- The entire accessible visas must be abolished that is dynamic.
- All current mutual Bank Accounts should be stopped up.
- Concerning to the Free Zone Authority, the entire charges and allegations must be clear.
- Several possessions ought to be transferred at instance of liquidation to the stockholders or a third party
- The corporation must have no responsibilities.
- 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
- Contingent upon the sort of business, certain clearances must be gotten from important specialists which includes
- Permission Certificate from Trade Unit (NOC)
- Customs Clearance
- UTILITIES will provide a Clearance Certificate
- Authorization Certificate from Free Zone Authority
- For every synchronized activity, get Clearance Certificate from some associated establishment
- One must acquire Immigration authorization from Free Zone Authority
- A pledge must be organized by the company to liquidate and in order bring out the process; a certified liquidator must be appointed.
Guidelines to liquidate a free zone company in Dubai Silicon Oasis
- The Company ought to present a notice to the DSO free zone specialist saying, the explanation for the conclusion of the substance, and three months preceding the liquidation in Dubai. Something else, there will be a few charges for wiping out the rent assertion.
- A board determination (or Shareholder’s determination if there should be an occurrence of FZE/FZCO) for De-enlistment must be bored witness to before free zone administrators. On the off chance that the investors are outside the nation/the proprietor of the organization is a remote organization then the determination must be authorized and bore witness to from the UAE government office of that nation and the same must be legitimized from Ministry of Foreign Affairs, UAE.
- The company must come again with all transponders and office keys and is not appropriate for the Freehold or Leasehold companies.
- The letterbox of the company must be stopped and restore the keys.
- The company also require some documents which include
- Original license of the company
- Share and Information Certificates
- Lease contract
- Inventive Division of Financial Improvement License (if got circulated through DSO)
- The following approvals are compulsory from unusual establishment
- DEWA authorization (relevant only in case of any capability in Light Unit, Industrial Unit, High Bay, Techno Position, Property Lease, Leasehold, and Freehold)
- Authorization from Customs Department Dubai
- Approval from DSOA Investment Department
- Clearance from DSOA Government Services Division
- DSOA IT Section approval
- Etisalat Clearance
- Facilities Management Clearance
- Report of liquidation must be arranged by a Dubai Accountant only.
FAR – Farhat Office & Co. has been in the liquidation industry for more than 30 years. For more information please visit our website.