Premier Brains provides a complete range of company formation and liquidations services in UAE.

Company Formations in the UAE

A separate team under our associated firm professionally handles these services.
Premier Brains and its associate provide complete services in onshore as well as offshore company formation. We shall advise on ideal location/place of incorporation for your business and help with selecting the appropriate legal structure to meet your business requirements.

We have a dedicated team to assist in all the government and legal proceedings involved in the company formation. We will handle your company formation process from start to finish.

Company Liquidations in the UAE

We assist in liquidation of all type of entities in UAE whether it is a limited liability companies, free zone companies or offshore companies across UAE.

What is a Company liquidation?

It is a process that brings to end the existence of a legal entity incorporated. It is also popularly known as winding up of a company or closing of a company or cancellation of a company in the UAE.

What are standard Steps & processes for cancelling company License in UAE?

Normally it starts with passing a board resolution by the Company declaring its intention to liquidate the Company. These board resolutions are required to notarized/legalized by the Notary Public in the case of Limited Liability companies registered in the UAE. In case shares holders are not physically present in UAE at the time of passing this resolution, then this resolution has to be notarised and attested from the UAE embassy of that country and has to be attested and legalised from the Ministry of Foreign Affairs and Ministry of Justice in UAE. In many Free Zones liquidations, requirement of attestation from Notary Public is not required but that needs to be confirmed with the respective freezone at the time of passing the board resolution. In this statement of resolution, liquidator is also appointment

What are standard documents required for Company Liquation in UAE?

• Trade License Copy
• Memorandum of Association Copy with all the changes
• Power of Attorney if any
• Shareholders Resolution
• Shareholders passport Copy
• Emirates ID Copy
• Deregistration Application Form

Submission of notification with regulatory authority.

Upon submission of above documents with regulatory authority and payment of liquidation initiation fee, an initial certificate for liquidation is issued (this apply in case of Main land companies in UAE. Separate notification procedures are followed in case of freezones). It is a documentary evidence from the Authority for the company to proceed with winding up of a company.

Once the initial approval for liquidation is obtained, the company can proceed for advertisement in the newspaper. The notice period for liquidation can vary from one regulatory authority to other like in case of Mainland companies it is 45 days but other freezones this period may vary. In certain freezones these advertisements are carried by the freezone but in most of cases it is the Company responsibility. Normally it is required that one of the advertisement must be in an Arabic newspaper

Activities to be carried out during the Notice Period?

• Cancelling of immigration card and obtaining clearance from Immigration Department
• Obtaining clearance from Labour Department
• Obtaining no objection certificate from Electricity and Water Departments
• Clearance letter from Telecom Authority (DU or Etisalat, etc)
• Clearance from customs department (for companies carrying trading or manufacturing activities)
• No dues certificate form Landlord
• Closing of bank account and obtaining a letter
• Cancellation of VAT registration (if company in VAT registered)
• Cancellation of Excise tax registration (if company in Excise tax registered)
• In case of certain licenses, more clearance certificate can be required based on specifics of those licenses
• During this period company should finalize its books of accounts and ensure all assets and liabilities are settled.

Final Step for Liquidation of company?

Once the notice period is over the following documents are to be submitted along with the above-mentioned documents:

• Liquidation report (this is prepared by the liquidator)
• Copy of Newspaper advertisement

Upon submission of above documents, the regulatory authority will review and upon approval of the same final payment to the authority has to be done. Thereafter, the final certificate called License Cancellation Certificate will be issued by the concerned regulatory Authority.

Premier Brains ensure that proper procedures are followed during the liquidation and advise complete guidance and hand holding during the liquidation process.

We understand that liquidation is a difficult decision to make so we ensure liquidations are carried out in most economical manner with least level of inconvenience.

Liquidation of Company

Write to us at info@premier-brains.com or call us at +97143542959 for free initial consultation.