Company Liquidation Services

Company liquidation in the UAE involves a formal process of closing down a business and distributing its assets to creditors and shareholders. Our comprehensive company liquidation services guide businesses through every step, ensuring compliance with UAE regulations, minimizing risks, and avoiding delays. Whether you are closing a free zone entity, offshore company, or mainland operation, we provide expert assistance to ensure a smooth, legally compliant exit.

AGPLAW

Our Company Liquidation services include:

  • Preparation of required legal documents
  • Coordination with relevant authorities and regulatory bodies.
  • Preparation and submission of required documentation.
  • Settlement of liabilities and final audit services.
  • Assistance with shareholder distributions.

Key Components of Our Company Liquidation Services

We provide a comprehensive range of liquidation services designed to simplify the process and ensure full compliance with UAE regulations.

Resolution Drafting:
We assist in drafting board resolutions, shareholder agreements, and other required documents to officially declare the decision to liquidate the company.
Notarization & Attestation:
Our team handles the notarization and attestation of legal documents, ensuring all paperwork meets UAE legal standards.
Final Financial Audit:
For businesses in free zones and mainland jurisdictions, a final audit is often required as part of the liquidation process. We coordinate with auditors to complete this step in compliance with UAE laws.
Settlement of Liabilities:
We ensure that all outstanding liabilities, including debts to suppliers, employees, and government authorities, are settled before final closure.
Deregistration with Authorities:
We handle the formal deregistration of the company with relevant government authorities, including the Department of Economic Development (DED), free zone authorities, and the Ministry of Economy.
Cancellation of Licenses & Permits:
We manage the cancellation of trade licenses, work permits, and any other operational licenses to complete the legal closure.
Employee Visa Cancellation:
We assist with the cancellation of employee visas, ensuring compliance with labor laws and avoiding penalties.
Employee Settlements & Gratuities:
Our team ensures that all end-of-service gratuities and final employee settlements are completed in accordance with UAE labor laws.
Shareholder Distribution:
Once all debts are settled, we assist with the distribution of any remaining assets to shareholders as per the company’s Memorandum of Association (MOA).
Asset Liquidation & Sale:
For businesses with physical assets, we can assist in the sale or liquidation of these assets to settle debts and maximize returns.

UAE Liquidation & Compliance Requirements

  • Final Audit Requirement
    Most jurisdictions, especially free zones, require a final audit of company accounts before the business can be liquidated. We manage this process to ensure timely completion.
  • Tax Clearance
    Businesses must obtain tax clearance from the Federal Tax Authority (FTA), especially if they are VAT registered, as part of the liquidation process.
  • Visa Cancellations
    All employee visas and work permits must be cancelled as part of the liquidation process to avoid future liabilities.
  • Bank Account Closure
    Once all debts are settled, company bank accounts must be closed, and a no-liability letter should be obtained from the bank.

We help businesses navigate these requirements,
ensuring all necessary steps are completed to fully dissolve the entity.

Post-Liquidation Services

Clearance Letters
We assist in obtaining clearance letters from government authorities, free zones, and banks, ensuring that no liabilities remain.

Final Employee Settlements
We oversee the final settlement of employee payments, ensuring compliance with UAE labour laws.

Asset Distribution
For businesses with remaining assets, we can assist with the final distribution or sale of these assets to maximize shareholder returns.

How can we help you?

Contact us for personalized information

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Key Contact:

Christiana Constantinou

Head of Corporate Management

Email: uae@agplaw.com

T: +971 45 401 203