License Cancellation
License Cancellation in Dubai
Closing a business in the UAE requires proper procedures to avoid penalties and ensure compliance. At Setup Daddy, we provide expert assistance with license cancellation, guiding you through every step to ensure a smooth, hassle-free, and legally compliant closure of your company.
Whether you operate in the mainland or a free zone, our team handles the documentation, government approvals, and formalities, allowing you to close your operations with confidence and peace of mind.
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About License Cancellation
Cancelling your trade license or liquidating your company is a serious decision to take and one that requires expert support throughout the process. There are several steps – some straightforward, others complicated such as obtaining NOCs from various governmental entities. An error or omission could result in significant fines – something you don’t need when shutting down your company.
Requirements
- Get clearance from the government authorities to avoid incurring any fines or penalties on your license when it is not renewed upon its expiry.
- Inform relevant authorities that you are no longer in the business to avoid incurring any fines or penalties on your license when it is not renewed upon its expiry.
- Discharge your liabilities towards creditors and partners if you are in a shareholding company and protect your interests and shares.
- Put your goodwill and business reputation in perspective if you decide to start a business again
