Closing a business on the mainland
No matter what title of business you own in the UAE, you must cancel your business license and all related permits associated with it when you have made your decision to close it down. Our team provides all of the formalities for closing your business and canceling its license correctly.
Why canceling the license is a requirement upon business closure?
It is important for relevant government entities to know that you are no longer in the business so you will avoid any accumulated fines and penalties incurred upon your license, when it is not renewed upon expiry date.
If you are in a shareholding company, it is important to discharge your liabilities towards creditors and partners and protect your interests and shares.
It is also wise to put your goodwill and business reputation in perspective, if you decide to open a business again.
This service is oﬀered to companies planning IPO, issuing of additional equity, merger acquisitions of companies.
Paul & Hassan also undertake the preparation of financial statements and review assignments for clients.