Company Formation & Liquidation Services
Overview:
Forming or liquidating a company in the UAE is a procedure full of legal and administrative complexities. At Primetax Accounting Services Co LLC, we are dedicated to offering clients complete support for both company formation and liquidation services, ensuring that the process of starting or closing an operation in the UAE is carried out with ease, efficiency, and adherence to UAE requirements.
Why Company Formation & Liquidation is Important:
Entering the UAE market provides various opportunities, but a well-planned approach is essential to adhere to local laws. Similarly, the liquidation of a company is a detailed process that settles debts, closes accounts, and deregisters with various authorities. Both processes require legal and financial expertise to avoid complications.
Our Company Formation & Liquidation Services Include:
- Setup Business and Company Formation: The UAE offers business structures such as Limited Liability Companies (LLC), free-zone companies, and sole proprietorships. We guide you through the entire process—from selecting the appropriate business structure to obtaining the necessary licenses and approvals from relevant authorities.
Steps in Company Formation:
- Step 1: Choice of Business Structure:
We assist you in selecting the most suitable structure for your business according to your goals and legal requirements. - Company Name Registration:
Your business name must comply with UAE regulations. - License Application:
Obtaining the trade licenses and approvals required. - Bank Account Setup:
Assisting in opening business bank accounts in local UAE banks.
- Step 1: Choice of Business Structure:
- Licensing & Approvals: Proper licensing is crucial for legal compliance. Different licenses and approvals are needed based on the business type, location, and industry. We ensure that all regulatory obligations are met efficiently.
Licenses in the UAE:
- Commercial License: For trading ventures.
- Industrial License: For manufacturing and production ventures.
- Professional License: For service-based companies such as consultancies.
- Free Zone License: Offers 100% foreign ownership and tax-free benefits.
- Liquidation Services: Closing down a business in the UAE involves settling all debts, closing business accounts, and canceling licenses. Our liquidation procedure is streamlined to be as seamless as possible.
Steps Involved in Liquidating a Company:
- Asset Valuation: Careful review of the company’s assets and liabilities.
- Settlement of Liabilities: Satisfying all outstanding liabilities before deregistering.
- License Cancellation: Submitting all paperwork with DED or free-zone authorities for cancellation of trade licenses.
- Closure of Bank Account: Facilitating the closing of corporate bank accounts.
- Compliance with the Law: Forming or winding up a business entity requires strict adherence to UAE’s legal system. We ensure that your business complies with all applicable laws and regulations, thus avoiding penalties and delays.
Obstacles to Company Formation & Liquidation:
- Numerous complexities in regulatory requirements
- Delays in obtaining necessary licenses or approvals
- Lack of awareness regarding legal obligations
- Difficulty in settling debts and closing accounts
Our Incorporation Process:
We personalize each step of your business setup according to your specific requirements. Whether you are opening a free-zone company or setting up an LLC, we handle all administrative and legal paperwork to get your business operational.
Our Approach to Company Liquidation:
We understand that the liquidation of a business can be emotionally taxing. Our goal is to streamline the closing process while ensuring compliance with all legal obligations, making it as hassle-free as possible.
Why Primetax for Company Formation & Liquidation?
At Primetax, we offer complete end-to-end services for all business setup and liquidation needs. We ensure that your company formation or closure is processed with reduced risk and minimal delays through the expertise of our professionals.
FAQs:
- What types of business structures are available in the UAE?
- How long does it take to form a company in the UAE?
- What is the process of liquidation in the UAE?
