Liquidating a Company in the UAE
Whether on a voluntary or involuntary basis, our company liquidation services involve complete assistance to successful wind up a company listed in one of the free zones in the United Arab Emirates or a local company registered by the Department of Economic Development of one of the Emirates.
The requirements to successfully liquidate a company vary based on:
- Legal form;
- Free zone vs. local company; and
- Location in the United Arab Emirates.
It is therefore essential to engage with an experienced professional services firm that has a proven track record of successfully liquidating a wide range of companies in line with client expectations.
As the appointed liquidators, we are able to provide the full range of assistance to the company, including:
- Appointment as liquidators;
- Issuance of the liquidation report;
- Drafting the Board Resolution;
- Assisting to close the bank accounts; and
- Assisting and managing the advertisement process.
For illustrative purposes, the requirements to liquidate a limited Liability Company registered with the Department of Economic Development of Dubai on a voluntary basis include the following (not an exhaustive list):
- Appoint a liquidator;
- Prepare and submit a board resolution to liquidate the company;
- Obtain a letter from the liquidator accepting appointment;
- Advertise and publish a notice of liquidation;
- Obtain relevant clearances and NOCs;
- Submit the liquidation report; and
- Pay the government liquidation fees.
Note that the liquidation report, liquidator appointment letter, and other submissions must be prepared in Arabic and we are able to perform all translations in house by our experienced professionals.
Disclaimer on Use
The information presented is intended for general information only and is not meant to be a substitute for professional advice or to be used for decision-making.
Professional advice relies on an assessment and understanding of the specific situation for each person and, therefore, the application of changing laws and regulations in the UAE, will vary widely from case to case.
The information contained herein is based on facts available from sources we believe to be credible at the time of publication and is subject to change.