Company Liquidation Services

Jitendra Chartered Accountants is regulated and approved audit firm by DIFC (Dubai International Financial Center). We are also registered as an approved company liquidators with DIFC in Dubai, UAE. Company liquidation in Dubai involves legal procedure and it can be a complicated and time-consuming process. To minimize the legal liabilities & financial losses while cancelling a trade license in Dubai, we offer company liquidation services by coordinating with government authorities to ensure the smooth and hassle-free completion of the liquidation procedure.

Liquidation of a Company in Dubai, UAE

Liquidation, dissolution or de-registration of a company is referred to the closure of business operations after paying off the liabilities to the creditors and distributing the assets of the company to its shareholders & owners. This is the details legal procedure, the regulation of land is taken place to ensure all stakeholders are being considered at the time of winding up the company in Dubai, UAE.

Types of Company Liquidation:

A company can be dissolved voluntarily or forcefully by authorities when it can no longer be able to pay its liabilities. UAE Company law states two types of company liquidation method:

  • Voluntary Liquidation
  • Compulsory liquidation

i) Voluntary Liquidation:

Voluntary liquidation is also referred to as shareholders liquidation. There are several causes that come into effect to liquidate the company voluntarily such as expiry of the fixed duration, the purpose of the company formation is achieved, termination of the objects, merger of the company with another company, continuous business losses, the inability of the company to pay its debts. Shareholders of the company decide to dissolve the entity to avoid further losses to occur.

ii) Compulsory Liquidation

Compulsory winding up a company refers to the forceful action when a company commit some serious offence against the law or insolvency of the company to carry business operations. It also comes into effect when creditors file complaints against the company to the local regulatory or authorities to claim their receivables. The local authority then takes action to forcefully liquidate the company and help the creditors to recover the money.

Procedure of Liquidate A Company in Dubai & UAE

The first thing to do in de-registering a company is to designate a liquidator firm. Only approved liquidators can be hired to start the liquidation procedure as defined in official regulations. The firm who offer company liquidation services helps in closing the company operations in compliance with UAE company laws. It is advisable to hire a listed liquidator to avoid the penalties from local authorities in UAE.

Procedure of Liquidating the Limited Liability Company (LLC) in UAE

Dissolving an LLC Company involves the following major stages:

  • BoD Meeting: Minutes of a meeting of the board of directors declaring to liquidate the company and appointment of regulated liquidator. This document must be attested by Notary Public.
  • Official letter from liquidator: A confirmation letter from the registered liquidator stating to accept the responsibility to liquidate the company
  • Application for liquidation: Submission of liquidation form along with fees to be submitted to the Department of Economic Development to get the company liquidation certificate
  • Advertisement in the newspaper: Place an advertisement in a local Arabic newspaper to announce the dissolution of a company
  • Notice period: 45 days grace period will be given from DED to wait for the creditors or clients if they have any financial claims on the company
  • Final Liquidator’s report: The liquidator will submit final company audit report and a letter stating that there is no claim from the third party/Client/Creditors during the 45 days ad period
  • Visa Cancellation: Cancel visa of all employees & partner and obtain NOC from the Ministry of Labour, Ministry of Immigration, DEWA & Etisalat/Du
  • Final Liquidation Certificate: After submitting all the documents, DED will issue a final company liquidation Certificate.

Our best liquidators in Dubai can offer more information about how to close the LLC & Free Zone Company in UAE under the UAE Commercial Law.

Procedure of Liquidating the Free Zone Company (FZE) in UAE

Almost every free zone has a different method to follow for company liquidation. Below are the most common and general procedure of de-registering a Free Zone Company in UAE:

  • BoD Meeting: Minutes of a meeting of the board of directors declaring to liquidate the company and appointment of regulated liquidator. This document must be attested by Notary Public.
  • Official letter from liquidator: A confirmation letter from the registered liquidator stating to accept the responsibility to liquidate the company
  • Application for liquidation: Submission of liquidation form along with fees to be submitted to the relevant free zone authority to get the company liquidation certificate
  • Advertisement in the newspaper: Place an advertisement in a local Arabic newspaper to announce the dissolution of a company
  • Notice period: 45 days grace period will be given from the Free Zone Authority to wait for the creditors or clients if they have any financial claims on the company
  • Final Liquidator’s report: The liquidator will submit final company audit report and a letter stating that there is no claim from the third party/Client/Creditors during the 45 days ad period
  • Clearance Certificates: Obtain Clearance certificates from Free zone authority (FZE/FZCo), business unite & CLD Government section.
  • Visa Cancellation: Cancel visa of all employees & partner and obtain NOC from the Ministry of Labour, Ministry of Immigration, DEWA & Etisalat/Du
  • Final Liquidation Certificate: After submitting all the documents, Free Zone Authority will issue a final company liquidation Certificate.

We offer company liquidation services to all free zones across UAE. Some of the most popular free zones in UAE are below:

Dubai International Financial Center (DIFC)
Dubai Multi Commodities Center (DMCC)
Dubai Airport Free Zone (DAFZA)
Dubai Internet City (DIC)

Jebel Ali Free Zone (JAFZA)
JAFZA Offshore
Sharjah Airport Intl. Free Zone (SAIF Zone)
Abu Dhabi twofour54 Free Zone

Ajman Free Zone
Creative City Fujairah
Umm al Quwain Free Zone
RAK Offshore

DIFC Approved Liquidators in Dubai

Jitendra Chartered Accountants is approved DIFC Liquidator Firm. We are listed as top liquidators in DIFC liquidators list. We have experienced team of liquidators that can help you in DIFC liquidation procedure and legal matters related to winding up a company in Dubai International Financial Center (DIFC).  If you are worried about the future of your company, if you have a lack of financial resources and if you feel that the company is making a continuous loses and getting towards the insolvency then sit back and hire our company dissolution services. We will take care of all the liquidation document preparation, utility cancellations, clearance certificates, bank account closure, no liability certificate, audited financial statements for liquidation and a final liquidation report to smoothly done this process of liquidation with no hassle. This is why we rated as top registered liquidating firm with DIFC.

We provide Company liquidation services to all type of business i.e mainland, free zone and offshore across the United Arab Emirates including firms under the jurisdiction of Dubai International Financial Centre (DIFC).