De-registration and Liquidation

De-Registration and Liquidation

At times, Businesses may have to deregister and close down their operations. This entails detailed procedures to be followed, assets disposed off and all the liabilities settled.  The businesses will need the help of Accountants / Liquidators to carry out the process smoothly without hassels.

KPI,  provides liquidation services to all entities – mainland, free zone and offshore across the United Arab Emirates including firms  registered with Dubai International Financial Centre (DIFC).

Liquidation Services

  • Submit the application form for deregistration;
  • Submit the resolution of company’s partners duly notarized by the notary public;
  • Appoint the liquidator and obtain liquidator acceptance letter;
  • Cancel all visas including partners visas and obtain immigration clearance and labor clearance;
  • Obtain other clearance from various departments like, DEWA, Etisalat, Customs, etc;
  • Cancel lease agreement with the landlord;
  • Place a liquidation advertisement in local newspapers;
  • Pay the requisite deregistration fee to the relevant government authorities and obtain liquidator report
  • Submit all the above original documents with registration authorities;

Procedures For Liquidation Of DIFC Firms

  • Submit request through the DIFC Portal for Winding Up – Will take 1 to 2 days to get approval from the DIFC;
  • Upload all signed resolutions – members and managers;
  • Advertisement of voluntary winding up in local newspapers for 14 days (within 7 days from the date of resolutions);
  • Issue 21 days of notice of Extra Ordinary General Meeting (EGM)
  • Cancel all visa in the company
  • Liquidator reviews books of accounts/management accounts to ensure that all liabilities have been duly settled;
  • Hold the EGM to discuss and approve the liquidator’s report;
  • Collect all original documents and submit with the DIFC ROC;