Last updated on November 29, 2021
How to cancel trade license in sharjah:LLC license cancellation Sharjah means company insolvency in Sharjah; or in simple words cancellation of the trade license in Sharjah. It is the procedure in which business unit shout down its function; and the property and capital of the company is multiply among the shareholders. Or in other words it is the method of closing company in Sharjah. If you are looking for how to cancel trade license in sharjah; then you are on the accurate place to obtain help.
Closing resources before think of how to cancel trade license in sharjah
First of all in the initial place; the most significant thing that needs to be close is the company utilities. And then you can think of how to cancel trade license in sharjah. It is essential to cancel all the utilities under the company use; like cancelling the account with Etisalat or du and DEWA; so that to get back your deposits. A huge part of LLC license cancellation in Sharjah deals with final payment for workers. The owners or shareholders of the company need to cancel their entire staff visa, as well as their work permits. If there is any such case before closing company in Sharjah. The employee’s termination can be made from both immigration and labor. As per UAE labor law; the business owner require to give their staff a two month paid or eight week notice period.
Another most vital thing you require to close is the bank account of the company. You will be mandatory to shout down all bank accounts connection with the company; and acquire an okay latter from the bank. Office or warehouse leases will also require to be close; before closing company in Sharjah.
How to cancel trade license in sharjah
Company closing in Sharjah or cancellation of trade license in Sharjah; is very central part of business life cycle. There are three cases where need the Cancellation of trade license in Sharjah.
First of all Cancellation of trade license in Sharjah or company liquidation in Sharjah becomes obligatory; when a company commit a serious offense of the law; or also in case a company commit a fraud and Sharjah authority starts inspecting; and hold any dis respect to any rule of the country. In such case they will take delivery of a legal notice; that is for Cancellation of trade license in Sharjah. So company needs to be close.
Second case for companies where company must to be close; if their income is not as much of their expense are very high; or in easy word when they do not have sufficient funds; another we can say that if their business is not in a line as it should be; to continue their daily tasks. And they are in a situation where they can’t pay their staff; or they are not competent to shelter their liability. The third case is when a company license is expired; and you do not desire to renew that; then you must close that license. Otherwise you will have a bunch of fine.
And by closing company in Sharjah we mean to Cancellation of trade license in Sharjah. But note that once a license is closes; that will not be re-open. For trade license cancellation, you require submitting a number of documents; and also obtain approvals from the different gov’t and federal authority; but it relay on the type of business license you are holding.
What we offer for LLC license cancellation Sharjah
- We arrange the company board resolutions
- Also we formulate the legal documents for LLC license cancellation in Sharjah
- LLC license cancellation application
- We support in finding as well as hiring a Liquidator
- A news adds for closing company in Sharjah
- We also get clearance letter from Etisalat; as well as from DM
- organize clearance letter from custom dept; as well as from DEWA
- We also help out in Bank account closure and Bank NLC
- Audit for the financial statements for LLC license cancellation in Sharjah
- We also help in employee visa cancellation
- The Labor card cancellation as well as Immigration card cancellation
- Liquidation report preparation as well as submission for DED license cancellation.
- Final cancellation letter
How to cancel trade license in sharjah; LLC license cancellation Sharjah; LLC cancellation in Sharjah
There are two main stages for closing company in Sharjah
- Termination of all the human resources; If there is any one active on a license.
- BOD resolution for closure and variety of a liquidator; and it has to be attesting from Notary Public.
- A letter from the chosen liquidator along with their License Copy; Auditor registration certificate, Authorized signature certificate that is attested from a Notary Public.
- Payment of the fees at DED to subject company closing certificate.
- Closing ad in two local Arabic newspapers for a day; and then we will wait for 45 days; so that to check whether any one has any claim against the company.
- Show the original Ad and final audit report to the DED.
- Confirmation of the Liquidator as well as Partners that there is no objection; or claim from the third party during the Ad period.
- We will cancel visa of the partners; if any valid visa is there on a company license. We will acquire clearance letter from Ministry of Labor; as well as Immigration, from SEWA also form Etisalat.
- Copy of Director Board resolution and copy of liquidation certificate..
- Pay charges at DED for LLC license cancellation.