Liquidation/Insolvency
The process of establishing a losing company in the SAIF Zone begins with the submission of the company's shareholders’ resolution to the SAIF Zone authorities. The shareholders must agree to the board's resolution for the firm to be liquidated.
Original firm documents (Trade License, Incorporation Certificates, Memorandum of Association, Tenancy Contract, Memorandum of Association, Investor Agreement, etc.) must be provided to the SAIF Zone for the Trade License cancellation certificate, along with the board resolution.
If the original documents to complete the company liquidation procedure are lost, a Lost Record Certificate must be presented to the authorities. The necessary clearances must also be obtained from the Port and Customs Department, Etisalat, and banks, among others.
Reyson Badger can arrange for the Auditor Certificate for the Closing Company in the SAIF Zone. The Auditor Certificate is mandatory for issuing Trade License Cancellation Certificates. All of the formalities of closing a firm in the SAIF Zone take about 15 to 20 days to complete. All outstanding money, security deposits, and guarantee deposits will be reimbursed to the company account after the firm is officially terminated.
Without the physical presence of the investor/business shareholder, Reyson Badger can complete the entire procedure of the company closing in the SAIF Zone. Investors can digitally sign the documents and do not need to go to the UAE to complete the company liquidation procedures in the SAIF Zone.
How can Reyson Badger assist you?
Reyson Badger has years of experience and is recorded as a top registered agent for Sharjah Airport International Free Zone. Our team of experts will help you throughout the company closing procedure with our specialization in the termination of SAIF Zone Companies. We'll also help you with all of the necessary paperwork, application forms, and clearances from SAIF Zone and other agencies.
Our dedicated PROs will also assist you with bank account closures, VAT De-registration, financial statement audits, and coordination of all the necessary company closing procedures in the SAIF Zone so that you have a stress-free company closing. Contact us right away for experienced help with SAIF Zone-approved liquidators.