What is the liquidation of the company?

Liquidation of the company is an activity where the operation and existence of the company comes to an end. In simple terms, it is closing of a company.

What are the Steps & procedures for cancelling License of Entities?

Notice of company’s Dissolution and Appointment of Liquidator:
Company shall pass the resolution for closing down of the company in a shareholder meeting. It has to be attested in case of LLP registered in UAE.

Documents required for Liquidation of Company in the UAE?
Copy of License
Memorandum of Association Copy with all the charges
Shareholders Resolution
Passport Copy of all shareholders
Emirates ID copy
Deregistration application form.

Liquidation Notice Period

Once documents are submitted, and payments are made to the authority, a primary liquidation certificate is issued. It is documentary evidence for the company to proceed with other formalities. In case of LLC companies notice of 45 days liquidation notice is mandatory to be published in four advertisements in the Arabic language.

Actions to be taken during Notice Period?

Immigration Department Clearance
Labor Department Clearance
Clearance from other utility authorities.
Clearance letter from Landlord
Bank account closure letter

Final Step for Liquidation of the company?

Post notice period, all mentioned documents and clearance letters are to be submitted with advertisements copy along with following documents. Liquidation report. Newspaper advertisement copy

Authority reviews all the documents and approves the final payment to the authority. The final License Cancellation Certificate is issued after the approval by the concerned department.