Services

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.

• Preparation of legal documents
• Preparation of Company board resolutions
• Liquidators appointment acceptance
• DED application and submission
• Newspaper advertisement for Company liquidation notice
• Arrange clearance letter from Municipality
• Arrange clearance letter from Custom
• Bank account closure and Bank No liability Certificate
• Audit for the financial statements for liquidation of company
• No Liability certificate
• Employees visa cancellation
• Labour card cancellation and clearance certificates
• Immigration card cancellation and clearance certificate.
• Liquidation report preparation and submission.
• Final cancellation letter.
• Partner Visa Cancellation.

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.