Cancellation of License & Company Liquidation in UAE

Trade license is the most essential document for a company to build and run in the UAE. The business requires to execute the trade license cancellation in Dubai if they plan to close the business for any reason.

For the cancellation of a Trade License in Dubai, you require to submit certain documents and receive various authorizations from the government offices.

Notice Period for Liquidation

A notice period is an extent wherein the basic duties could be done within a short span. For a business substance who requires liquidation, it requires to keep in mind that some essentials are to be implemented for both the business as well as the workers. Verify the needed activities before you move towards the liquidation method.

It is not a concern that what kinds of license you hold here in UAE but you need to remove the trade license if you chose to terminate the business. If the business license is not renewed after the expiry date, there will be a penalty and fines on your trade license from the government officials. You will have the one month grace period once the trade license has been expired.

The mode of the trade license cancellation in Dubai relies upon the nature of the business. Single business or civil business cancellation is more apparent than the limited liability license cancellation. One of the major things you need to keep in mind that before rushing to the cancellation process, the business has to get some authorization from the related government department like

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How to Cancel your Trade License in UAE

The process of trade license cancellation includes two steps:

Primary Step

Secondary Step

Documents Required for Liquidation Process in UAE

License Copy

Resolution of Shareholder

Power of Attorney (if you have any)

Filled Application Form for trade cancellation

Emirates ID (EID) and Passport of Shareholders

Copy of Memorandum of Association (MOA) with complete alterations

As per the UAE Government practices, a notification day is provided to the business substance where they can accomplish the processes needed for successfully covering up the industry.
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