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Company liquidation in Dubai is a structured legal process that businesses must follow when ceasing operations. This procedure ensures that all financial obligations to creditors, employees, and regulatory authorities are met before formally closing down. Whether a company operates in the mainland, a free zone, or offshore, it must undergo an official liquidation process to comply with UAE regulations.
To initiate the process, business owners or shareholders must appoint a licensed liquidator to oversee the winding-up procedure. While the core steps remain the same, specific requirements vary depending on the business jurisdiction and the respective regulatory authority. Understanding the steps, conditions, and criteria involved can simplify the liquidation process for businesses in Dubai
Company liquidation, also referred to as winding up, is the formal process of dissolving a business entity and distributing its assets among creditors and shareholders. Once completed, the company ceases to exist as a legal entity. Liquidation in Dubai can be voluntary or compulsory, depending on the circumstances leading to the closure.
At Unicorn Global Solutions, we specialize in managing company liquidation procedures across the UAE, ensuring seamless execution and compliance with all legal requirements
Voluntary liquidation occurs when shareholders decide to close the business for reasons such as financial difficulties, strategic realignment, or completion of the business’s purpose. This type of liquidation is often initiated to prevent further liabilities and to ensure a smooth exit from the market.
Compulsory liquidation is mandated by a court order, typically at the request of a creditor due to unpaid debts. The court appoints a liquidator to manage the process, ensuring that assets are distributed in accordance with legal requirements
The company liquidation process in Dubai involves several key steps:
1. Resolution for Company Dissolution
Shareholders must draft and approve a resolution to dissolve the company.
The resolution must be notarized by a Notary Public. If shareholders are overseas, it must be attested by the UAE Ministry of Foreign Affairs and the Ministry of Justice.
2. Appointment of a Liquidator
A licensed liquidator must be appointed to manage the process and ensure compliance with UAE laws.
3. Submission of Required Documents
Shareholders’ resolution for dissolution
Copy of the company’s trade license
Memorandum of Association (MOA) with amendments (if applicable)
Copies of shareholders’ passports and Emirates IDs
Deregistration application form
4. Publication of Liquidation Notice
A liquidation notice must be published in both English and Arabic in a UAE-based newspaper.
A standard notice period of up to 45 days applies, during which creditors can raise claims.
5. Clearing Liabilities and Finalizing Closure
During the notice period, businesses must:
Cancel employee visas and work permits
Obtain clearance from the Immigration and Labour departments
Close the company’s bank account and secure a closure letter
Cancel utilities, leases, and vehicle registrations
Complete VAT deregistration and obtain a clearance certificate from the Federal Tax Authority (FTA)
6. Submission of Liquidation Report
The liquidator prepares a final report summarizing the closure proceedings.
The report is submitted to the licensing authority along with any required fees.
7. Issuance of License Cancellation Certificate
Upon approval, the licensing authority issues a formal License Cancellation Certificate, marking the official closure of the company.
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With extensive expertise in business setup and liquidation services, Unicorn Global Solutions offers tailored solutions to ensure efficient business closure while adhering to UAE laws. Our professional team simplifies the liquidation process, providing business owners with a stress-free experience during this transition.
For comprehensive company liquidation services in Dubai, contact Unicorn Global Solutions today. Our team is ready to guide you through every step of the process, ensuring a smooth and compliant business closure. For more details Text us on whatsApp or call us today
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The process typically takes between two to three months, depending on the complexity of the business structure and clearance requirements.
All employees must receive their final salaries and gratuity payments before their work permits are canceled.
Yes, appointing a licensed liquidator is required for most business types, except certain free zone companies where the authority may oversee the process directly.
Failure to complete the legal liquidation process can result in fines, blacklisting, and legal action against shareholders and directors.
