Questions & Answers
Liquidation of a company in Ajman Free Zone
Dear Sir/ Madam,
I am a 50% shareholder in an Ajman Free Zone Company. I would like to cancel the licence and close the company as it's contracts have expired.
The company has no outstanding debts and owes no money to any third parties. However, it does have some small internal loans taken by directors.
In this instance, can the company be closed if an arrangement between directors is agreed to and formally documented?
Yes, it's possible.
Required documents:
- Letter from the company (signed and sealed)
- Original trade license (if valid)
- Original Chamber of Commerce Membership Registration Certificate (if valid)
- Old tenancy contract (if valid)
- Liability release letter from Etisalat
- Liability release letter from Car Showrooms Department Office
- Liability release letter from FEWA (warehouses, plots, showrooms, offices)
- Site key should be submitted (warehouses, plots, showrooms, offices)
- All residency visa cancellation papers should be submitted with stamp of airport exit stamp or General Directorate for Residency and Foreigners Affairs in case the person is still inside the state
- Liability release letter from Ajman Wastewater Department regarding (warehouses, plots, showrooms)
