Closing an inactive sole establishment company and bank account without fees

Dear questioner,

All you need to do is to apply for the cancellation of the activity license through the relevant Department of Economic Development and obtain the necessary clearances from:

- The Ministry of Human Resources and Emiratisation

- The General Directorate of Residency and Foreigners Affairs

- The electricity, water, and telecommunications service providers

- The lessor

However, for partnership, equity, and equity companies, the process is more complex in terms of procedures and time required.

This is because it involves liquidating shares, collecting debts, and paying creditors before the matter can be finalized.

Dear Questioner,

Greetings!

Any business license cancellation in Dubai shall undergo the procedures stipulated by the Dubai Government.

The payment of service fees is mandatory and cannot be avoided. If the decision of business closure is already taken, it is advisable to cancel the license at the earliest to avoid any future legal consequences.

Subject to conditions, the service fee would include the license cancellation fee, knowledge dirham fee, innovation dirham fee, cancellation announcement fee, company dissolution fee, de-register of a business company fee, etc.

For further assistance, kindly contact us by phone or email.

Best regards.