Process of Cancellation of Trade License in Dubai
What is the Cancellation of Trade License?
Cancellation of trade license in Dubai (UAE) or anywhere else in the world means termination of business contract and beginning of the liquidation process of a company.
Get Clearance From These Government Authorities Approval from any water and electricity authority
Closing of bank account
Task 1
Approval from ministry authorised to undertake cancellation of trade license
Task 2
Task 3
Approval from the immigration department
Task 4
Task 5
Liquidator needs to be appointed (in some cases)
Liquidator needs to be appointed (in some cases) A liquidator needs to be appointed if the legal form of your company is one of these:
1. 2. 3.
General Partnership Limited Liability Company
Simple Limited Partnership
4. Public Joint Stock Company 5. Private Joint Stock Company
Appointment of Liquidator
In case of cancellation of trade license in Dubai UAE, when liquidation process of a company has to start, the liquidator is usually appointed by the partners or the general assembly of the company, or the concerned civil court. After his appointment, the first step by the liquidator is the registration of the decision concerning his selection in the commercial register.
Process of Cancellation of Trade License in Dubai 1
Drafting of resolution Trade license cancellation application
2
Level
3 4 5
Cancellation
Publication
Clearance
Prepare the board of resolutions for the appointment of the liquidator for the cancellation of the trade license. Also, keep your cancellation contract ready for the notary public. Once the liquidator is appointed, in the very first level is, the person or business require to cancel the license has to draft an application for cancellation. Cancellation of all the employment visas issued under the trade license and receive the necessary approvals. Liquidation advertisement should be published in two local newspapers. Confirmation of the Liquidator and Partners is a must that there is no objection from the third party during the publication period. The visa and company established card are cancelled, and the business owner whose license is revoked will receive clearance from all concerned authorities.
Application for cancellation of trade license
Cancelling the license depends on the business type and structure of your company. For establishments and a sole proprietorship, the process is simple because all you need to do is to apply for cancellation through DED and acquire all relevant clearances from.
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