Trade License Cancellation in Ras Al Khaimah Free Zone
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TRADE LICENSE CANCELLATION IN RAS AL KHAIMAH FREE ZONE

Documents Required for Trade License Cancellation in Ras Al Khaimah Free Zone

When your business ceases operations in Ras Al Khaimah , Trade License Cancellation in Ras Al Khaimah Free Zone (RAK FZ) is crucial to avoid paying fines and running into problems with outside authorities. You may de-register your company license by following the step-by-step instructions provided below.

Procedure for Trade License Cancellation in Ras Al Khaimah Free Zone (RAK FZ)

Step 1 : Submit the required documents and a Company de-registration application

A completed application form must be submitted to any Ras Al Khaimah Free Trade Zone (RAK FTZ) office with clearance documentation from the following authorities before terminating and formally de-registering your license.

  • RAK Customs (for a warehouse and a parcel of land)
  • Chamber of Commerce in RAK (if applicable)
  • Dubai Post Office (cancellation of corporate postal ID)
  • Du or Etisalat (if applicable)
  • Authority for Federal Electricity and Water (if applicable)
  • Traffic Division (if any cars are registered in the business’s name)

Step 2 : Payment of Fees

After submitting the Company de-registration application and the necessary paperwork, you will get an invoice. The next step is to pay the fees.

Step 3 : Submission of Visa Cancellation Form

To formally end your business file with the RAK Immigration Authority, all visas under the firm must be revoked. Consequently, you should submit a request for a cancelled visa to one of our Government Services agents.

Step 4 : Issue of Company De-Registration Letter

Following the payment’s completion and submission of the visa cancellation request, RAK FTZ will publish a legal notification for 14 days in a local Arabic newspaper (if applicable). If no problems or complaints arise within the publishing time, RAK FTZ will send a Company de-registration letter.

Conditions and Prerequisites

  1. For individual businesses, a notice shall be published for one week in one of the recognized publications, and for partnerships, the Declaration of Partnership Dissolution should be issued for two weeks (in the case of companies).
  2. The license holder’s attendance is required.

Read More : Company Liquidation in Dubai Silicon Oasis.

Documents Required for Cancellation of Company in RAK Free Zone

1 . The Owner, Shareholder(s), or Authorized Representative must properly complete and submit the application.

(This might be done by either filling out the application form or applying using the client portal account.)

a. In the case of a Free Zone Establishment (FZE)

In the event of a Free Zone Establishment (FZE), the Owner’s Declaration requesting Company de-registration must be filed and signed by the Owner or Authorized Representative. Such declaration must be:

      • Signed before an Authority,
      • Notarized by a UAE notary public, or
      • Notarized and legalized up to the level of the UAE Embassy, and
      • Presented in original format

 b. In the case of Free Zone Establishment (FZ- LLC)

In the case of a Free Zone LLC (FZ-LLC), a Shareholders’ Resolution requesting the Company de-registration and the justification must be presented and signed by the Shareholder (s) or Authorized Representative. Such Resolution must be:

      • Signed before the Authority,
      • Notarized by a UAE notary public, or
      • Notarized and legalized up to the level of the UAE Embassy, and
      • Presented in original format.

c. In case of Branch or subsidiary

In the event of a branch or subsidiary, a corporate resolution requesting the Company de-registration, together with the explanation, must be:

      • Printed on the parent company letterhead,
      • Sealed with the company seal, and
      • Signed by all of the parent company’s shareholders with the official Proof of Ownership.

Suppose the Board of Directors signs the Corporate Resolution. In such a scenario, it is necessary to submit the official list of directors and the Authority to act on behalf of the parent company’s shareholders. It is to be noted that Corporate Resolutions should be filed in original format and notarized and legalized up to the level of the UAE Embassy.

2. A letter of termination signed by the Owner, Shareholder (s), or authorized representative

A letter of termination signed by the Owner, Shareholder (s), or authorized representative attesting to the payment of all sums owed to the general manager and assuming responsibility for any future claims or disputes from the general manager, or a letter of resignation signed by the appointed general manager attesting to receipt of all sums due from the company.

(This applies if the General Manager is neither the Owner nor a Shareholder.)

3. Return the original license (if valid)

4. The Owner, Shareholder(s), or Authorized Representative must correctly complete and submit the Exit Survey.

5. Approvals from the following agencies and departments:

    • RAK Customs (in the event of a warehouse and land or plot)
    • RAK Chamber of Commerce (if applicable)
    • Approval from the Department of Environment Protection (in case of Industrial Licenses)
    • Clearance from Emirates Post Office – Cancellation of Company Postal ID (if applicable)
    • The telecom company (Etisalat/Du) (if applicable)
    • Federal Electricity and Water Authority (if applicable)
    • Traffic Department (if any vehicles are registered in the business’s name) (if applicable)
    • The Environmental Protection & Development Authority (EPDA) and the Department of Civil Defense demand NOCs from businesses with industrial activities.

How may Farahat & Co. assist you?

Farahat & Co., registered company liquidators in the UAE, can help business owners dissolve their corporations in any of the nation’s mainland and free zones company liquidation. Our personnel will assist the business owner with the proper company liquidation procedures depending on the business jurisdiction and guarantee that the company liquidation complies with UAE Company Law. To avoid penalties or future admission restrictions, entrepreneurs must quickly liquidate their companies following UAE Free Zone jurisdictional legislation. If you want to dissolve your RAK-free zone business, choose Farahat & Co., a qualified company liquidator in the UAE. Contact us to find out more.

Read More : Guide to Liquidating a Company in Meydan Free Zone.

Mohamed Ali Farahat has worked on various forensic accounting assignments, which include operational and financial audits, reconstruction of accounting statements, financial information analysis, and investigation of fraud and financial distress. Read more