Liquidation

Liquidation

Liquidation is the process of legally closing the company’s financial and legal obligations before the company can be de-registered with RAKEZ.
RAKEZ does not carry out the liquidation process. The customer must first appoint an approved liquidator to complete the liquidation requirements. Once the liquidation is completed, the customer can apply for De-registration through RAKEZ.

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Customer Journey

  • Appoint an Approved Liquidator

    To start the liquidation process, you must appoint an approved liquidator.
    The liquidator will handle the legal liquidation requirements, including financial auditing, liquidation reports, public notice publication for 45 days, and any other required liquidation documents.

  • Complete the Liquidation Process

    The liquidator will complete the required liquidation steps and provide you with the necessary liquidation documents.
    These documents will be required when applying for de-registration with RAKEZ. .

  • Apply for De-registration on RAKEZ 360 Portal

    After receiving the liquidation documents, log in to the RAKEZ 360 Portal.
    Go to Company Services and select De-registration.

  • Upload the Required Documents

    Upload the required documents, including the liquidation documents provided by the liquidator.
    Then submit your request.

  • Pay the Invoice

    Once your request is reviewed, RAKEZ will send the invoice to your primary registered email address.
    Pay the required fees to proceed.

  • Receive the Cancellation Certificate

    After the payment is completed and the request is processed, RAKEZ will complete the de-registration and issue the Cancellation Certificate.

Outcome

  • E - De-Registration License Cancellation Letter

Service Fees & Delivery Timelines

Processing Time: 5 working days.

Newspaper Publication: 45 days.

License Cancellation Pricing

Coworking/Offices : AED 3,000 plus external parties' fees (immigration and COC DED if applicable)

Industrial License (Warehouse / Land): AED 4,500 plus external parties' fees (immigration and COC DED if applicable)

Required Documents

1

Resolution

Resolution of the General Assembly approving the dissolution of the Company, appointment of the Liquidator, and approval of the Liquidator’s remuneration. Ensure compliance with the Company MOA regarding the General Assembly meeting invitation requirements and follow the prescribed procedure.

2

Liquidators Confirmation

Confirmation Letter from the appointed Liquidator confirming their appointment for the liquidation.

3

Manager’s No Claim Letter

Confirmation letter of receipt of all the dues and service benefits

4

45 days publication notice

The Liquidator shall publish the notice in two local daily newspapers (English and Arabic).

5

Liquidator’s Report & Financial Statement

Liquidator’s Report and Company Financial Statement after completion of the publication period.

6

Proof of Deposit to RAK Court (if applicable)

Proof of deposit to RAK Court for the missing shareholder’s share amount, in accordance with the Company MOA and after settlement of all company dues

Terms & Conditions

Important note:
This request aligns with our commitment to ensuring a transparent and lawful closure, meeting regulatory standards and safeguarding the interests of all parties involved.

Additional requirements for shareholders holding a valid Authorised Representatives (POAs)::

  • Power of Attorney (if represented by an attorney) with a valid passport copy or Emirates ID.

  • The POA must be notarized by a notary public in the UAE or notarized and legalized up to the level of the UAE embassy from the country where it was issued. For assistance in attestation, please contact RAKEZ Value Added Services at vas@rakez.com.

Additional requirements for companies with land/warehouse facility (if applicable)::

  • NOC from Public Services Department. Please approach Public Services Department to obtain their NOC

  • NOC from the bank, if the company has registered security interest or mortgage.

  • Clearance from Etihad Electricity and Water Authority (Etihad WE/UTICO)

  • NOC from RAK Customs. (To obtain the NOC, you need to have this form signed and sealed by RAKEZ, then submit it to RAK Customs.)

  • Telecommunications provider clearance (Etisalat/Du) in case you have a direct connection.

  • Environmental Protection and Development Authority (EPDA) clearance for clients with EPDA license.

  • Clearance from Civil Defense.

  • PSD clearance is required if the client has an existing agreement with the Public Service Department.