Dubai is the land of business opportunities, and every business requires a trade license. A trade license is a document that permits the company to conduct its business and also helps to facilitate company formation.
When a company in Dubai faces closure or liquidation, the trade license also needs to be cancelled. Cancelling the trade license is a lengthy and tricky process. However, you can seek assistance from business setup consultants to overcome this hassle.
Necessity of Cancellation of Trade License in Dubai
It is crucial for a business owner to cancel their trade license upon closing the company setup. When you are no longer in the business, you must let the respective government entities know about this situation.
If you fail in the cancellation of a trade license in Dubai, it will result in fines and penalties for the business.
Ready to take the first step in your
business journey?
We'll walk you through every step – no guesswork needed.
Book Free Consultation
Conditions for DED Trade License Cancellation
When you are about to dissolve your business, ensure you know how to cancel a trade license in Dubai.
Some of the questions you should ask beforehand are:
- Where and How do I file the cancellation application for a trade license?
- What formalities need to be followed when cancelling a Dubai business license?
The answers to these questions will help you understand more about the DED trade license cancellation process.
How Can You Cancel a Trade License in Dubai?
The steps for the trade license cancellation in Dubai are as follows:
Drafting of Resolution
The first step in cancelling a Dubai Economic Department trade license is to prepare the board of resolutions and the cancellation contract, which must be officially witnessed by a notary public.
Application for Cancellation of Trade License
After completing the first step, the business owners must draft an application to cancel the Dubai trade license.
Cancellation of Employment Visa
The third step is to cancel all the employment visas under the trade license and obtain the necessary approvals from the respective authority.
Note: If the cancellation is made on the mainland, permission from the Department of Economic Development is required.
Meanwhile, you should get approval from the Free Zone Authority if it is in the free zone.
Publication
After the visas are cancelled, the next step is to publish the liquidation announcement in two local newspapers. A joint statement from the liquidator and partners also needs to be received, mentioning that no objection from a third party had been filed during the publishing period.
Pay the Dubai Trade License Cancellation Fees
Next, you have to pay the Dubai trade license cancellation fees. In addition, our business experts will provide a complete structure for the trade license cancellation cost in Dubai, which will help us decide how to move forward.
Clearance
Obtaining a visa clearance is the final step for cancelling a trade license in Dubai. After doing so, the company establishment card will be cancelled, and the owner will receive clearance from the relevant authorities.
Essential Documents Required for Cancelling Trade License Dubai
As a business owner, you must ensure that your DED trade license cancellation has been completed by submitting the following documents.
- Passport copy
- Trade license copy
- Copy of Visa
- Newspaper copies of the published liquidation details
If you want to make the entire process smooth and trouble-free, you can seek assistance from our business setup consultants.
Why Choose Our Services?
Business Setup Worldwide helps its clients by providing a smooth incorporation process. We are a team of skilled experts who can help brighten your business future by providing any kind of business-related services. For more information, schedule a free consultation.
