Freezone Company Liquidation Requirements under DDA

The Dubai Development Authority (DDA) holds a key role in Dubai's economic development, aiming to establish international benchmarks for urban planning, real estate growth, municipal services, and business support. Its dedication lies in nurturing a business-friendly environment that fosters excellence, benefiting various stakeholders like real estate developers and strategic partners who are vital to Dubai's economy. The authority is at the forefront of driving Dubai's economic progress while ensuring top-tier standards in urban planning, real estate development, and a multitude of business services.

Procedures For a Free zone Company Liquidation under DDA

• Notice to the DDA Free zone Authority

Submit a notice to the DDA free zone authority at least one month before liquidation. Failure to do so may result in charges for lease agreement cancellation.

• Board Resolution

Obtain a board resolution, or a shareholder's resolution for FZE/FZCO, duly attested by freezone executives. If shareholders are abroad or the owner is a foreign company, the resolution must be notarized and attested by the UAE embassy in that country, followed by legalization by the UAE Ministry of Foreign Affairs.

• Return Office Keys

Ensure the return of all office keys and transponders (excluding companies in Leasehold or Freehold).

• Newspaper Advertisement

Provide copies of the newspaper advertisement, with one in English and one in Arabic.

• Submit Original Documents

Submit essential original documents, including the company's original license, certificate of formation, share certificates, lease agreement, and the original Department of Economic Development License if it was issued through DDA.

• Obtain Clearances

Obtain clearances from various authorities, including Dubai Customs Department, DDA Finance Department, DDA Government Services Department, DDA IT Section, Etisalat (if required), and Facilities Management.

• Liquidation Report

Ensure a liquidation report is prepared by registered auditors in Dubai.

Free zone Company Liquidation Requirements under DDA are as Follows:

• The Board's Resolution for liquidation.
• Appoint only registered and approved liquidators in Dubai for the process.
• Cancel and clear all employee visas during the liquidation.
• Submit liquidation letters exclusively to registered and approved auditors in UAE freezones.
• Obtain a Clearance Certificate from the free zone authority.
• Acquire a No Objection Certificate from the Business Unit.
• Obtain a Clearance Certificate from the Commercial Licensing Division Government section.
• Settle all fees, charges, and expenses within the UAE freezone.

For a hassle-free process of free zone company liquidation in UAE, consider hiring experienced Liquidation Services in Dubai like Reyson Badger. We have a proven track record in liquidating companies in various categories within the UAE, including free zones. Consult with us today to ensure a smooth and lawful closure of your company.