Closing a company

How to close a company

To officially and formally close a company, there are a number of factors that must be considered beyond simply ceasing operations, such as settling property, assets and liabilities. Below is an overview of what you need to know before closing down your company.

A company termination application can be submitted to DMCC via the DMCC Member Portal. For a complete list of all submission requirements, refer to the instructions in the resources section of this page.

Once the application along with all of the requirements have been received by DMCC, the application will then be verified and processed, which includes publication of notice of termination in a local Arabic newspaper. Final termination of the company will be filed in the registry of DMCC and termination letters will be issued.

Please note:

  • Appointment of Liquidator is mandatory for the liquidation process. The Liquidator can be any chartered accountant or law firm registered and licensed in the UAE
  • The authorities, duties and responsibilities of the Directors of the company will be terminated as an effect of the submission of the company termination application
  • No services can be rendered to the company in liquidation process except for those that are related to the liquidation of the company
Legal mandate

Pursuant to Article 81 of the DMCC Company Regulations (Regulation No. 1/030), the winding up of a DMCC registered company may either be by:

  • Summary winding up under Regulation 81.1.1.1
  • By its creditors under Regulation 81.1.2.1 or
  • By the court under the UAE Commercial Transactions Law No. 18 of 1993 (Volume 5, Bankruptcy and Preventive Composition) and other applicable legislation

Resources

The instructions and templates below are designed to guide you through the process of closing your company. Please note: These are downloadable samples for your reference and should not be filled in