Tax Agent Dubai UAE
AFAQ ACCOUNTING
Arabic accounting

Feasibility Study & Business Setup

Company Liquidation dubai
If you wish to enter into new investments or enter new partners into your business or if you would like to request funding from a bank or an investor and if you need feasibility study for your new or existing project, we are here to assist you in providing a comprehensive economic study of the proposed project and providing a clear and professional image to the relevant entity so that your ideas are transformed into an economical formula and numbers that are close to reality to help investor or banks to make a decision regarding financing or entering into any future partnership.

To start your business in UAE, you need to know first about kind of all allowed activities and type of establishments and the liability of each type, then you have to be familiar with governmental procedures and approximate cost to get your license.

we can also arrange liquidation services of companies, We provide this services through our business partners at competitive fees. which include the following Procedures to liquidate Business license:

The Liquidation depends on the type of company. For sole establishments, you need to apply for cancellation through Dubai Economy and obtain all relevant clearances from:
• Ministry of Human Resources and Emiratisation
• Directorate of Residency and Foreigners Affairs
• Telecommunication Company and  Water and electricity authority.
• the leasing entity etc.
For the limited liability companies, the process requires liquidating the shares, collecting the debts and paying the creditors before finalizing with Dubai Economy.

Companies which require a liquidator
You need to appoint a liquidator if the legal form of your company is one of these:
• General Partnership
• Limited Liability Company
• Simple Limited Partnership
• Public Joint Stock Company
• Private Joint Stock Company

The process involves two stages:

Stage 1:
• Prepare a notarized general assembly confirming the company liquidation and the appointment of a liquidator.
• Prepare an official letter by a registered liquidator accepting the task of liquidation.
• Apply for cancellation by filling the required form through Dubai Economy
• Dubai Economy will issue a liquidation certificate.
• Publish the notice of liquidation in two local newspapers.
• The notice gives the debtors a grace period of 45 days from the date of issue to submit their claims.

Stage 2:
• Submit to Dubai Economy a declaration letter from the liquidator and the partners indicating no objection from any other parties during the grace period.
• Collect required approvals of other government bodies to cancel a license.
• Cancel the firm card at Ministry of Human Resources and Emiratisation.
• Cancel the foreign partners' visas sponsored by the company at the respective General Directorate of Residency & Foreigners Affairs
• Submit all the above documents to get the approval for final cancellation.
• Dubai Economy will determine the fees.
• You can receive the certificate of deregistration (cancellation) after paying the requested fees.