How to close a company with an expiring license and an inactive partner?

You must visit Tesheel for its cancellation and tell them the situation.

Dear Questioner,

According to UAE law, a company can be dissolved and canceled in the following ways:

1. Voluntary dissolution:

This is when all partners or shareholders agree to dissolve the company and submit a request for cancellation to the relevant authorities.

2. Court-ordered dissolution:

This is when a court orders the dissolution of the company due to certain circumstances, such as bankruptcy or violation of laws.

In your case, since one partner is deceased and the other is not interested, it may be difficult to obtain their consent for voluntary dissolution.

In this case, you may need to seek legal advice and potentially go through the court-ordered dissolution process.

If you do not renew the license or cancel the company, you may face penalties and fines from the relevant authorities.

It is important to take the necessary steps to properly close the company to avoid any legal issues in the future.

You may also need to consider the financial and legal implications of the deceased partner's share in the company.

It is advisable to consult with a lawyer who specializes in business and corporate law to guide you through the process and ensure that all legal requirements are met.

In summary, it is important to properly dissolve and cancel the company in accordance with UAE law to avoid any potential consequences.

Seeking legal advice and assistance can help you navigate this process smoothly.

Please contact us via phone or email for assistance if needed.

Greetings,

In order not to bear financial fines starting from one hundred thousand dirhams and reaching one million dirhams for fictitious employment and issuing visas, you can communicate with the partner and reach an agreement.

You can make a partners’ declaration of your exit from the license, and you can close it if you do not wish to work with it or sell it.

We can submit an official warning to your partner to cooperate with you, otherwise, he will bear the consequences of his lack of cooperation alone.

We are honored to provide you with legal support.

For further inquiries about your topic, you can come to our office or contact us via phone, WhatsApp, or email.

We can help you file a bankruptcy case for the company and close it.

So please contact us on phone number: [---------].

Hello,

If the deceased partner has a legal representative (e.g., executor, administrator), involve them in the process.

If no representative is appointed, you might need to initiate probate proceedings to settle the estate.

We can negotiate with the other partner.

Prepare and submit a written application to the Department of Economic Development (DED) in Dubai, requesting the closure of the trading license.

For further assistance, kindly share your WhatsApp number.

Dear Questioner,

Since all parties to the contract are not agreeing to the cancellation, you will need to get approval from the authorities.

We will discuss the procedures in detail. Kindly share your WhatsApp number to discuss this further.

Dear Questioner,

We need to review the constitutional documents in order to advise you properly.

Please send us a copy of the Memorandum of Association and trade license of the company so that we can review the same and advise you with further steps.

Please contact us for detailed discussion and assistance.

Dear Questioner,

According to the Commercial Procedures Law, you must send a notice to hold a shareholders or partners meeting.

Then, a resolution must be issued by the board of directors and after that, you must go to court to request a court order to exclude him as a partner.

Dear Questioner,

While it may seem easier not to renew the license, taking formal steps toward cancellation is advisable to avoid potential complications down the line.

To close the company effectively, given your unique circumstances—one partner deceased and another uninterested—you should review the company structure and licensing requirements, contact relevant authorities for guidance on cancellation procedures, document all communications thoroughly, consult legal professionals as needed, and formally file for cancellation rather than simply allowing it to expire.

Dear questioner,

You have to liquidate the company.

To do so, you can either have all partners (the heirs of the deceased partner, yourself, and the other uninterested partner) sign a decision to close and liquidate the company, or you can sue for liquidation (which would be more costly).

For more information, please contact us on WhatsApp [--------].