Liquidation Of Company In Dubai
A mainland company or DED license Liquidation of Company is a legal entity that can conduct business operations and transactions throughout the UAE and in other countries without restrictions. UAE Companies Law dictate that expatriate shareholders must nominate a local service agent or a local partner or sponsor to setup a mainland company. In the case of a Limited Liability Company LLC that is Commercial Trading entity, the local partner must hold the majority equity share at least a minimum of 51 percent. We provide Liquidation Of Company In Dubai.
A favorable and legal alternative to a local partner acting as the 51 percent local sponsor, is to choose a corporate nominee partner. This provides expatriate shareholders with 100 percent financial and operational control and stronger legal rights. The obvious benefits of corporate nominee partnership include complete control of the business operations, 100 percent of financial benefits, and of course stronger legal contracts aimed at protecting the interests of the business owner and respective shareholders. At our company Branches DED advisory team will provide you with transparent and concise advice on all aspects of mainland company formation covering structures, licensing and business activities. Our customer service management team provide efficient ongoing advice and support ensuring you can simply focus on the day to day operations of your business.
We are the best in industry for providing Liquidation Of Company In Dubai. We take the time to understand your needs and requirements in a legally privileged environment and put together a tailored proposal with transparent pricing that satisfies those needs, with support every step. Over 9 years, we have built a strong team which is recruited from over 14 countries allowing us to communicate with our clients in over 16 languages. We have also built strong partners allowing us access to preferential services, unavailable elsewhere.
Liquidation Of Company In Dubai
Our team of qualified consultants will be able to help you every step of the way and advise what options best suit your needs. We are able to provide complete business setup, so you can land and go, or we can just arrange for you to have a BCM branch through our network of local license providers. We have an expanding team of market research specialists who can compile a report on the entire MENA region with regards to where your product sits and send it all over, without you having to leave your office. At Branches we provide various business setup and services such as
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What is liquidation of company?
Liquidation or completing of a corporation is an activity whereby the operation of a corporation and its existence will come to an end.
The liquidation or completing of a corporation is usually referred to as closing of a corporation or cancellation of a corporation within the UAE.
What are the Steps & procedures for cancelling License of Entities in UAE?
Notice of Company’s Dissolution & Appointment of a Liquidator: As a first step the company has to pass a resolution for dissolution (closing) of the company in the shareholders meeting. This resolution has got to be attested by notary within the case of indebtedness companies registered within the UAE. If the shares holders are not available in the UAE, then the 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 the case of companies registered in most of the Free Zones attestation from Notary Public is not required. In this statement of resolution, the appointment of liquidator should even be included with the name of the liquidator along side their address. Further, in the case of sole establishments this step is not applicable.
What are the documents required initially for Liquidation of Company in the UAE?
Memorandum of Association Copy with all the changes
Power of Attorney if any
Shareholders passport Copy
Emirates ID Copy
Preregistration Application Form
Notice Period for Liquidation of company.
The above documents are submitted and the initial payment should done to the concerned Authority (Department of Economic Development), a liquidation certificate (primary) are getting to be issued. It is a documentary evidence from the Authority for the corporate to proceed with completing of a corporation .
Once the liquidation certificate (primary) is obtained the corporate can proceed for advertisement within the newspaper. In the case of indebtedness Companies and a few of the free port companies like Dubai Creative Cluster Authority, etc requires 45 (45) days’ notice of liquidation advertisement in the public newspaper . In the case of LLC companies for advertisements are to be published in Arabic .
What are the actions to be taken during Notice Period?
Clearance from Immigration Department
Clearance from Labour Department
Clearance letter from Electricity and Water Departments
Clearance letter take from Telecom Authority (DU or Etisalat, etc)
Clearance letter form Landlord
Bank account closure letter
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:
Copy of Newspaper advertisement
Once the above documents are submitted, the authority will review and upon approval of an equivalent payoff to the authority has got to be done. Thereafter, the ultimate certificate called License Cancellation Certificate are going to be issued by the concerned Authority.
BCM Corporate Services Group ensures clients apt procedures for Liquidation of Company in the UAE. Get in touch with our team for an initial consultation on how to proceed with in the most appropriate proceedings.
Contact us for your Liquidation of Company in Dubai :
We at BCM Corporate services LLC, extend our quality services to our client with well experience & qualified Business consultant with rich expertise in Business Management services so that client’s requirements of Liquidation of Company in Dubai can be completed on time with satisfactory Result outcome . Please feel free to reach us for your Business setup requirements on our email id : firstname.lastname@example.org or call us on +971502585921