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FZ Company cancellation

How to Cancel your Business License?

Requirements:

  1. Original request letter (for 1 shareholder) or board resolution (for multiple shareholders) stating the intent to close the company signed by the shareholder/s
  2. Original Formation & License Cancellation Form
  3. All original company documents (Business License, Certificate of Formation, Share Register,

    Memorandum, Occupancy Agreement)

  4. Bank clearance/closing letter (applicable only if there is a bank account opened under the

    company’s name / a Declaration letter stating that the company did not open any bank account

    here in UAE). Please check the link – Sample Declaration Template (without Bank Account)

  5. Business License Cancellation Questionnaire (please click on the link)
  6. Company Stamp
  7. VAT De-registration (If applicable) – click here for more information

    Submit all the required documents to Creative Zone for processing

Timeline: 11-12 business days
Cost: Depending on FZ, TL and Contract.

Note:

  • All visas under the company’s sponsorship need to be cancelled prior to the application of license cancellation;
  • A penalty of AED 105 per day will be charged if the license cancellation is initiated after the date of expiry;
  • If the company immigration card is expired upon license cancellation, a penalty of AED 1,575 will be charged for the first month after expiry, and AED 210 per subsequent month;
  • To avoid incurring fines on license and immigration card cancellation, please allow at least 45 days’ notice to initiate cancellation of all visas under the company’s sponsorship.
  • You will need to settle any UAE government related fines / penalties / case i.e. RTA, Police, all Visa related fines and fees etc. prior to the trade license cancellation.
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