For the deregistration of the company in UAE, you must first cancel all your permits and licenses. This is important for all the companies who have decided to close down their companies in the UAE.
First of all, the government needs to know your reason behind deregistering a company. They must know why you no longer want to continue the company’s operations anymore. This step is mandatory as it saves the company from heavy fines and penalties on the license when it doesn't get renewed after its expiry date.
For a company with shareholders, discharging the liabilities and protecting the interests and shares is really important. So, to save the reputation of your business and to avoid fines, cancelling the license and permits is important.
Read More : Company Liquidation & De Registration in Dubai – The Requirements and The Process.
Your company form and structure are what decide the procedure for license cancellation. Such procedures are quite easy for sole proprietorships and establishments. This is because all that a company needs are to apply for the cancellation of the license through DED and get all the needed clearance forms.
Companies with shareholders have to go through long processes because before finalizing the real estate dispute, they have to clear all the debts and liquidate the shares properly.
Stage 1:
Stage 2:
Read More : court-appointed liquidators: What are the Roles and Duties of a Liquidator?.
This requires obtaining a no-objection certificate from the Ministry of Human Resources and Emiratization along with a cancellation proof of residence (for non-golf residents).
There are a lot of people who do not go through the legal processes of deregistering companies. They rather just stop paying the fees for renewing the license after its expiry date is reached. People need to know the fact that they may have to face heavy penalties and fines for not paying the fees. Therefore, it is better to deregister the company rather than not pay the fees.
Company Liquidation process in Dubai and cancellation of license require both accuracy and efficiency. You will get experts in the respective fields at Farahat and Co. Apart from HR, payroll, and audit services FAR help you in deregistering your company. It will guide you throughout the path to make sure that you do not stress out over things.
We all know the fact that how difficult it is to go through the troubles of liquidating a company. That is why FAR takes full responsibility for carrying out all the duties for liquidating the company. From paying the debts and settling each and everything, it will be by your side no matter what. That’s what makes it the best firm to count on when you want to deregister your company in UAE.