SHAMS License Liquidation (Revenue-Generating Operating Entity)

Submission of board resolution and application to SHAMS authority to initiate the SHAMS liquidation process.

An approved auditor is appointed to review financial records under the SHAMS liquidation process.

Preparation and submission of the liquidation report based on audited financials.

Clearing all outstanding dues including salaries, supplier payments, and penalties.

Completion of final tax filings and deregistration as part of the SHAMS liquidation process.

Cancellation of all employee, investor, and dependent visas.

Closure of establishment card with relevant authorities.

Closure of company bank account after settlement of financial obligations.

Obtaining approvals from SHAMS and associated entities.

SHAMS authority issues final approval completing the SHAMS liquidation process.