Q: We are two partners who started a UAQ Freezone company. We have decided to liquidate the company. We don't have any liabilities… A: Let me assume that your company is an LLC. If all the partners agree, you can take the decision by Board Resolution. You can do it by judicial liquidation…

Umm Al Quwain, UAE

337

The proper procedures to liquidate a company in UAQ Freezone

Dear sir / Madam,

We are two partners who started a UAQ Freezone company with a general trading license last year.

As per the current market conditions, we are not in a position to carry out any business operations here.

We have decided to liquidate the company. We don't have any liabilities.

Please advise us of the procedure. Currently, we are in Oman and having a valid UAE investor visa till 2020 Dec.

Thank you!

Aseel Legal Consultancy

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16 Nov 2019, 08:50

Let me assume that your company is an LLC. If it is so, you can start the liquidation procedures by either one of the following:

1. If all the partners agree, you can take the decision by Board Resolution.

2. Otherwise, you can do it by judicial liquidation.

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