Liquidating a company in Dubai involves a series of legal procedures and steps to ensure the closure is conducted in compliance with the laws and regulations of the United Arab Emirates. General overview of the process for company liquidation in Dubai:

1. Board Resolution: The company's shareholders must pass a board resolution approving the decision to liquidate the company. This resolution should outline the reasons for liquidation and appoint a liquidator.

2. Cancel Visas and Permits: Cancel the visas and work permits of all employees associated with the company. This includes notifying the relevant government authorities about the cancellation of these permits.

3. Clear Debts and Liabilities: Ensure that all outstanding debts, including salaries, supplier payments, and government fees, are settled before initiating the liquidation process.

4. Cancel Trade License: Apply for the cancellation of the trade license at the relevant authority where the company is registered.

5. Clear Leased Properties: If the company is leasing a property, settle all dues and return the property to the landlord. Obtain a no-objection certificate (NOC) from the landlord, confirming the clearance of all financial obligations.

6. Clearance from Utility Providers: Clear any outstanding bills with utility providers such as DEWA (Dubai Electricity and Water Authority) and Etisalat/Du (telecom providers). Obtain clearance certificates from these entities.

7. Public Announcement: Publish a notice in local newspapers announcing the company's intention to liquidate. This step is a legal requirement and allows creditors to come forward with any claims.

8. Final Audit and Financial Statements: Prepare the final audited financial statements of the company. The liquidator will review these statements as part of the closure process.

9. License Cancellation: Submit all required documents, including the clearance certificates, board resolution, and financial statements, to the relevant authorities for final approval and cancellation of the company's license.

10. Employee Settlements: Ensure that all employees are settled, including gratuity payments and end-of-service benefits as per UAE labor laws.

11. Closure Certificate: Once all requirements are met, the company will be issued a closure certificate, confirming the legal closure of the business.

It's important to note that the specific steps and requirements can vary based on the type of company, the jurisdiction, and other factors. Also, untimely liquidation of the company may lead to unwanted fines from the relevant authority where the company is registered. ACTA Consultancy will guide you through the company liquidation process, ensuring compliance with all applicable laws and regulations.

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