The liquidation process varies slightly between mainland and Free Zone companies, but generally follows a clear, multi-stage procedure.
Step 1: Board Resolution & Appointment of a Liquidator
The process begins with the shareholders or partners passing a notarized resolution to dissolve the company. A licensed liquidator, typically a registered audit firm, must be appointed to oversee the entire process. We can act as your official liquidator, ensuring all steps are managed with professional expertise.
Step 2: Initial Application & Public Notice
An initial application for liquidation is submitted to the relevant authority (e.g., DET, RAKEZ, etc.). For mainland companies, a public notice of liquidation must be published in local newspapers, providing a grace period for any creditors to submit claims.
Step 3: Settle Obligations & Obtain Clearances
This is a crucial stage where all debts must be settled. Our team will assist you in:
- Canceling all employee and investor visas.
- Obtaining No Objection Certificates (NOCs) from various government and utility departments (DEWA, Etisalat/Du, Customs, etc.).
- Closing the company's corporate bank account and obtaining a closure letter.
- Deregistering from VAT and other taxes with the Federal Tax Authority (FTA) and filing a final return.
- Canceling your lease agreement and obtaining a tenancy contract termination letter.
Step 4: Final Liquidation Report & Deregistration
The appointed liquidator will prepare a comprehensive final liquidation report, detailing all settled liabilities and the distribution of any remaining assets. Once this report and all clearance documents are submitted, the authority will issue the final liquidation certificate and remove your company’s name from the official register.
