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Liquidation of a company in the UAE
Usually, the decision to close a business abroad is made with the appearance of losses, change of residence, for family reasons, or if you want to change the direction of activity and transfer the business to another country.
And here it is very important to do everything correctly and completely. Avoid the common misconception: “forgetting” about the firm can get you in a lot of trouble.
The correct procedure for liquidating a company in the UAE
Which exit from this situation? Contact Legal Solutions (specialists in liquidation of business abroad), so that everything is done according to the law and you are not threatened by any sanctions.
Close the company in the UAE in a short time
What do you need to do to complete the procedure for closing a business in the UAE?
- The board of directors and shareholders must decide on the liquidation of the company, and authorized persons can also deal with issues.
- Mandatory publication in the local press of information that the liquidation process of the company has begun.
Get an official certificate of company closure in the UAE and rest assured that all business is in order, debts are repaid and taxes are paid.
Otherwise, entry into the UAE with a tourist visa will be closed until the debt is repaid in full. A ban on entry for the debtor and other countries is not excluded.
If the company is simply left as it is, and the resident visa is not canceled, then problems with entering the UAE are guaranteed. This is doubly annoying, since most often it is for obtaining such a visa that foreigners open a business there. They come to the country for a few days a year. Since the police report wrongdoing, in this case tax evasion, to the immigration office, another course of events is possible. If you do end up in the UAE, you will be detained at the airport. These are real cases from practice. Getting out of this situation is very difficult.
Legal liquidation of the UAE company
Use the generally accepted practice of winding up/closing a company in the UAE. Only the issuance of a certificate of liquidation of the company can indicate that the procedure has been successfully completed. This is exactly what our team achieves for its clients.
The liquidation of companies in the UAE by Legal Solutions specialists is carried out exclusively within the law! This issue will be dealt with by an experienced professional in doing business abroad. All details will be taken into account, the company will be permanently closed, and the UAE authorities will not have any claims against you after the liquidation is completed.
You may be offered the accelerated liquidation with the sale of assets and change of ownership. For each client, our team selects a solution individually, guided by the laws of the UAE. We help to avoid significant financial costs in the future.
If the liquidation occurs according to the standard scheme, then the procedure is as follows:
- Announcement of the closure is provided to the local press.
- Meeting of shareholders.
- Extinguishing debts.
- Closing of bank accounts.
- Submitting an audit report.
- If there are lease agreements for office space, they are terminated.
To order the liquidation of a company abroad, fill out a short form on the website, call us or write an email.
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