7 Steps for liquidating a company in Dubai Silicon Oasis
Dubai Silicon Oasis Authority, a 100% government-owned free zone that promotes modern technology based industries with the urban master-planned community, state-of-the-art infrastructure, and in-house business services.
Following are the Steps to liquidate a company in Dubai Silicon Oasis
- The Company should submit a notice to the DSO free zone authority mentioning, the reason behind the closure of the entity, and three months prior to the liquidation. Otherwise, there will be some charges for canceling the lease agreement.
- A board resolution (or Shareholder’s resolution in case of FZE/FZCO) for De-registration must be attested in front of free zone executives. If the shareholders are outside the country/the owner of the company is a foreign company then the resolution has to be notarized and attested from the UAE embassy of that country and the same has to be legalized from Ministry of Foreign Affairs, UAE.
- Company must return all office keys and transponders (It is not applicable for the companies in Leasehold or Freehold)
- The company post box must be closed and return the keys.
- Company Original license, Certificate of formation & Share certificates, Lease agreement and the Original Department of Economic Development License (if it is issued through DSO)
- The following clearances are mandatory from different authorities
- DEWA clearance (Applicable only in case of any facility in (Light Industrial Unit, Land Lease, Techno Point, High Bay, Freehold, and Leasehold)
- Clearance from Dubai Customs Department
- Clearance from DSOA Finance Department
- Clearance from DSOA Government Services Department
- Clearance from DSOA IT Section
- Etisalat Clearance
- Facilities Management Clearance
- Liquidation report must be prepared by a Dubai Auditor only.
Emirates Chartered Accountants Group can support you in the preparation of liquidation report and also assist you in providing PRO services for liquidation.