Company Liquidation Service under the insolvency, Restriction and resolution act

Company Liquidation Service under the insolvency, Restriction and resolution act
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Company liquidation in the UAE is among the most difficult strategies. All things considered, HAM offers this support of making its whole interaction simple and in a particularly productive manner for all customers contacting them. To end up a UAE business, the firm should initially organize an embraced paper by a recorded outlet consenting to take on the obligation. 

Then, the firm should apply for business discontinuance by finishing the necessary professional form through endorsed channels or the DED. Thusly, DED or the supported segment will deliver a liquidation certification. This endorsement should then be distributed as a liquidation notice in two local area papers for individuals to know. 

Note that the main guaranteed official vendors inside the UAE can be picked to end up a free zone organization. This incorporates dropping and clearing all worker visas while a free zone organization is going through liquidation. Henceforth, a liquidation letter should be introduced exclusively to the enlisted official reviewer for, UAE free zones.

Cancellation of Limited Liability Company License

First Stage:

  • Cancel all existing employees, if any
  • Resolution of Director Board for dissolution and appointment of a liquidator and it has to be attested from Notary Public.
  • Letter from the Liquidator along with their License Copy, Auditor registration certificate, Authorised signature certificate attested by Notary Public.
  • Payment of the fees at the Department of Economic Development to issue company liquidation certificate.
  • Liquidation advertisement in two local Arabic newspapers for one day and wait for 45 days to check whether any client has a financial claim against the company

Second Stage:

  • Present original newspaper Ad and final audit report of the company to the Department of Economic Development.
  • Confirmation of the Liquidator and Partners that there is no objection/claim from the third party during the Ad period.
  • Cancel visa of partners, if any, and get a clearance letter from the Ministry of Labour and Immigration, DEWA, Etisalat.
  • Copy of Director Board resolution and copy of liquidation certificate.
  • Pay fees at the Department of Economic Development.

First Stage:

  • Cancel all existing employees, if any
  • Resolution of Director Board for dissolution and appointment of a liquidator and it has to be attested from Notary Public.
  • Letter from the Liquidator along with their License Copy, Auditor registration certificate, Authorised signature certificate attested by Notary Public.
  • Payment of the fees at the Department of Economic Development to issue company liquidation certificate.
  • Liquidation advertisement in two local Arabic newspapers for one day and wait for 45 days to check whether any client has a financial claim against the company

Second Stage:

  • Present original newspaper Ad and final audit report of the company to the Department of Economic Development.
  • Confirmation of the Liquidator and Partners that there is no objection/claim from the third party during the Ad period.
  • Cancel visa of partners, if any, and get a clearance letter from the Ministry of Labour and Immigration, DEWA, Etisalat.
  • Copy of Director Board resolution and copy of liquidation certificate..
  • Pay fees at the Department of Economic Development.

             Cancellation of sole Establishment companies

  • Cancel all existing employees, if any.
  • Type Labour Establishment Card Cancellation form from Tas’heel Center. No government fees there.
  • Get seal and authorized signature of the company on the application and submit at any of the Labour Office branches. The Labour office will issue their NOC by putting a stamp on the application you submitted.
  • You should prepare the above-mentioned cancellation form even if your company didn’t make a Labour Establishment Card.
  • Then type the license cancellation form of the Department of Economic Development, get the signature of the owner, and submit it at DED of Business liquidation services.
  • Pay fees at the Department of Economic Development for cancellation
  • Economic Department will issue a file number and take it to the Department of Protective Systems to get clearance from the Police authority. If there are no violations in Police records, they will send clearance messages soon to DED electronically.
  • Pay fees to ded to get Cancellation Certificate.
  • Take this certificate to the Immigration Head office in Jaffliya along with a request letter in Arabic and the original Immigration Establishment Card. If the card is lost, you will have to get a Certificate of Loss from the Police. To get this certificate, prepare a request letter in Arabic and submit it at your nearest police station. The certificate will be issued after two days
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