IFZA License Liquidation (Legacy Structure)

Introduction

Closing a company set up under an older framework requires a structured approach, especially when regulatory expectations have evolved over time. The IFZA...
Read more

View Overview

Liquidation

Documents required

1 .

Board Resolution for company liquidation

2 .

Shareholders’ Resolution approving liquidation

3 .

Copy of trade license

4 .

Memorandum and Articles of Association

5 .

Passport copies of shareholders and directors

6 .

Emirates ID copies (if applicable)

7 .

Visa cancellation proof (if applicable)

8 .

Clearance letters from relevant authorities

9 .

Final audited financial statements

10 .

Liquidator’s report

Highlights & Benefits

Regulatory clarity:

Ensures full compliance with updated IFZA rules while closing legacy entities without legal complications or future liabilities.

Structured closure:

Provides a step-by-step approach that simplifies winding down businesses formed under older frameworks with minimal confusion.

Liability protection:

Helps settle all outstanding obligations properly, reducing risks of penalties or legal exposure post-closure.

Document alignment:

Brings outdated company records in line with current requirements before final deregistration.

Smooth transition:

Enables shareholders to exit cleanly and reallocate resources or start new ventures without unresolved obligations.

Process Flow

Initial review:

Assess company status, liabilities, and completeness of legacy documentation.

Resolution drafting:

Prepare and sign board and shareholder resolutions for liquidation.

Appointment of liquidator:

Engage an approved liquidator to oversee the process

Clearance process:

Settle liabilities, cancel visas, and obtain NOCs from authorities.

Financial closure:

Prepare and submit final audited financial statements and reports.

Submission to IFZA:

File all documents with IFZA for review and approval.

Final deregistration:

Receive confirmation of company closure upon approval.

FAQs

What is the IFZA liquidation process?

It is the formal procedure to close an IFZA company legally.

How long does liquidation take?

Typically takes 4 to 8 weeks, depending on clearances.

Is a liquidator mandatory?

Yes, an approved liquidator is required for the process.

Can liabilities delay liquidation?

Yes, all dues must be cleared before final approval.

Terms & Conditions

All outstanding fees, penalties, and liabilities must be cleared before initiating liquidation
The company must not have any active visas or unresolved immigration matters.
A registered liquidator must be appointed to prepare and submit the final report.

Pricing Details

IFZA License Liquidation (Legacy Structure)

Normal service

AED 9,150

Total

AED 9,150

Arnifi Price

AED 9,150

Note: The payment is prepaid.

Pricing Details

AED 9,150

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IFZA License Liquidation (Legacy Structure)

Introduction

Closing a company set up under an older framework requires a structured approach, especially when regulatory expectations have evolved over time. The IFZA...
Read more

View Overview

Liquidation