Pandemic problems, lack of profits, no clients, shortage of funds, stiff competition, or other economic uncertainties— no matter what the reasons for closing your company, it is so painful to think that all you have invested to maintain your business work turn into downfall waste.

Shutting down a business involves a series of steps. When you decide to take the painful decision, you may not be willing to go through the process aside from slowly killing your heart but also the fact that you will face a tremendous amount of paperwork. That’s why we are here for you to process everything to reduce your worries.

Facing the processing of a visa is very time-consuming and hectic. You will face a tremendous amount of paperwork. That’s why you should hire a team of experts, a pro services company to process on your behalf to reduce your worries.

Important Matter regarding Trade License Cancellation:

Important Notes Before Liquidating Your License:

• Don’t cancel the company’s bank account until we refund all partner and employee bank guarantees, including DEWA and landlord security deposits.
• All employees and partners must be in the UAE to cancel their visas unless they’ve been outside the UAE for more than six months (employees) or one year (partners). In these cases, visa cancellation can be done while they’re abroad.
• All employees and partners must also cancel their under-sponsorship visas (e.g., housewife, children, housemaid) simultaneously with their visa cancellation.
• Avoid canceling the company bank account until you receive the bank guarantee refund from Labor and Immigration.

Requirements for Trade License Cancelation in Dubai:

• • Trade License Copy First & Second Page
  • All Partners passport copy, visa page, and emirates ID front and back
  • Local Partners passport copy and Emirates ID front and back
  • Ministry of Labour Company Computer Card Copy
  • Immigration Establishment Card
  • Immigration online account (username and password).
  • Original RSA token
  • Original E-signature card of the authorized person in the Ministry of Labour
  • Original Company Stamp
  • Original Company Letter Head

Essential documents and processes for trade license cancellation:

Liquidation Report: This report provides a detailed account of the company’s assets, liabilities, and the liquidation process. It’s typically prepared by a liquidator or an authorized representative.

Zero Employees List (Labor and Immigration): This document confirms that there are no employees currently associated with the company. It’s required by both the Ministry of Labour and the General Directorate of Residency and Foreign Affairs (Immigration).

Partner Visa Cancellation: If the company has sponsored partner visas, these must be canceled before the trade license can be terminated.

Cancellation of Establishment Card: The establishment card, which the presence of the authorized person is needed during the cancellation

No File Certificate: This certificate indicates that there are no open files or pending cases associated with the company.

Dubai Court, Board of Resolution: If the company is a limited liability company (LLC), a board resolution must be passed to approve the liquidation.

Initial Liquidation Certificate: This certificate from DET, Department of Economy and Tourism marks the beginning of the liquidation process.

Newspaper Advertisement: A notice about the company’s liquidation must be published in a local newspaper.

Clearance Letters: These letters from various government departments (DEWA, FEWA, SEWA, ADDC, Etisalat, DU, Customs) confirm that there are no outstanding dues or liabilities.

Bank Account Closure and No Liability Certificate: The company’s bank accounts should be closed, and a certificate from the bank confirming no outstanding liabilities is required.

Final Liquidation Certificate: This certificate from DET signifies the completion of the liquidation process and the successful cancellation of the trade license.

Additional Considerations:

Why should you hire us to cancel your trade license?

Shutting down a company is very a painful task. Plus, you may likely miss out on important aspects when closing your business. It’s best to rely on an expert strike-off company service like us. In return fo a modest sum, we handle the process for you.

Here are related links to this article for your reference:

• Dubai Mainland License Business Setup
• Steps for Your Business Setups in Dubai
• Payment Voucher Reduction
• Freezing of license