How to Cancel your Business License? Requirements: Original request letter (for 1 shareholder) or board resolution (for multiple shareholders) stating the intent to close the company signed by the shareholder/s Original Formation & License Cancellation Form All original company documents (Business License, Certificate of Formation, Share Register, Memorandum, Occupancy Agreement) 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) Business License Cancellation Questionnaire (please click on the link) Company Stamp 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.