- Preparation and approval of shareholders’ resolution of dissolution – In case of Limited Liability Companies (LLCs), the shareholders resolution must be attested by a Notary Public that are registered in the UAE. The resolution must first be notarized and attested at the relevant UAE embassy and then further attested at the UAE Ministry of Foreign Affairs and Ministry of Justice if the shareholders are not available in the UAE. Attestation by Notary Public is required by Free Zone companies in the UAE, generally.
- Appointment of a liquidator – Appointment of a liquidator and receiving an acceptance letter from the liquidator.
- Submission of the shareholders’ resolution along with mandatory documents and required fees, to the relevant licensing authority, including:
- Copy of the company’s Trade License
- Copy of the company’s Memorandum of Association
- Powers of Attorney (if any)
- Copies of passport / Emirates ID for all partners, owners and shareholders
- Deregistration application form.
- Publication of newspaper advertisements – Depending on the licensing authority the company is under the company will need to publish two to four newspaper ads both in English and Arabic for a period of up to 45 days.
The 45 days’ notice period can be utilized for the following:
- Cancellation of work permits and visas for all employees and partners
- Clearance letter from Immigration Department
- Clearance letter from Labour Department
- Clearance letters from utilities companies – water, electricity and telecoms
- Clearance letter from leasing entity (landlord)
- Clearance letter from Road & Transport Authority (RTA) for any registered vehicles
- Clearance letter from Federal Customs Authority (FCA)
- Bank account closure letter
- VAT de-registration and VAT clearance letter from FTA
- Preparation of the Liquidation Report – Once the notice period is over, the liquidator can prepare the Liquidation Report. The completed Liquidation Report with all the accompanying documentation should then be submitted to the relevant Authority along with the required cancellation fees. The Authority will review the submission and, if approved, will issue a ‘License Cancellation Certificate’.