Closing a Business in a Free Zone

The typical steps

1. 1

   Pass a shareholder resolution to close

   Closure usually begins with the shareholders formally agreeing to shut the business down. This resolution is the decision that authorises everything that follows.

   Documents:Shareholder resolution to close
2. 2

   Cancel all employee and investor visas

   Before the licence can go, every visa tied to the company must be cancelled — this covers both employee visas and investor visas.

   Documents:Employee visa cancellationsInvestor visa cancellations
3. 3

   Settle any outstanding financial obligations

   Clear anything the company still owes. Any outstanding financial obligations need to be settled as part of closing the business.

4. 4

   Deregister with the Federal Tax Authority if applicable

   If your company is registered for tax, you must deregister with the Federal Tax Authority. This step applies only where relevant to your business.

   Documents:Federal Tax Authority deregistration
5. 5

   Submit the licence cancellation or liquidation application

   With the above in order, the company then submits a licence cancellation or liquidation application, along with the required clearances and documents.

   Documents:Licence cancellation or liquidation applicationRequired clearancesSupporting documents
6. 6

   Closing a branch of a free zone company

   To close a branch, you close the branches of the free zone companies registered with the Ministry of Economy and Tourism. For companies not registered with the Ministry of Economy and Tourism, you must provide an attested decision of the parent company to cancel the free zone company branches.

   Documents:Attested parent company decision

Fees and timelines may change — verify with the official source.

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