Many Chinese enterprises plan to cancel the idle Abu Dhabi Free Trade Zone Company voluntarily after completing the phased Middle East business layout. Many people mistakenly think that the process is exactly the same as Dubai Free Trade Zone. Due to the omission of special compliance links in Abu Dhabi, overdue fines and even bad records are incurred.

1, the enterprise has the ability to pay, no debt disputes.
The company's assets are greater than all liabilities, there is no bank loans, supplier arrears, outstanding contract claims, judicial litigation, clear equity no pledge, on behalf of the dispute, all shareholders unanimously signed the dissolution resolution, can apply for voluntary liquidation, insolvent enterprises can only go to the court compulsory liquidation, the cycle is longer, the cost is higher.
2, settle the park all arrears and overdue fines
to make up for the annual license fee, virtual address custody fee, legal secretary service fee, UBO beneficiary declaration overdue fine; Terminate the office address custody agreement and apply for the free trade zone to issue a NOC certificate of no arrears settlement.
3, all residence visa clearance filing
the investor's visa, employee's work visa and family member's attachment visa under the name of the company must all be canceled, the employee's salary, annual leave and resignation compensation shall be settled, and the employment settlement documents shall be obtained from the Ministry of Labor. The enterprise filing card Establishment Card shall be canceled simultaneously, and no filing information of affiliated personnel shall be kept under the name of the enterprise.
4, tax comprehensive write-off settlement
complete the zero declaration or tax declaration of enterprise income tax and value-added tax during the period of existence, and settle all taxes and late fees; Once registered VAT tax number, you need to apply for cancellation of tax number separately, and finally get the FTA tax clearance certificate of UAE Federal Tax Administration, which is the final hard material of the free trade zone.
5, the public bank account properly disposed of.
Inventory account capital and balance funds, draw up the remaining funds according to the proportion of equity return to shareholders plan.
step 1: Shareholders issue a dissolution resolution and appoint an official licensed liquidator.
All shareholders sign a written liquidation dissolution resolution stating the termination of operations, appointment of liquidators and asset distribution plan. According to the regulations, a licensed liquidator in the free trade zone list must be hired to coordinate the overall liquidation work, the liquidator issues a letter of acceptance of employment, submits it online to the free trade zone system for the record, and officially opens the liquidation process.
Step 2: Multi-department Application for Settlement of All No Objection Letters
in turn, the Immigration Bureau, the Ministry of Labor, telecommunications service providers, and water and electricity agencies will issue settlement certificates to confirm useless labor disputes, communications and public utility arrears; trading enterprises will additionally cancel customs codes, obtain customs settlement documents, and collect a full set of NOC materials for filing.
Step 3: publish the announcement of the liquidation of claims and wait for the statutory reporting cycle.
ADGM and KEZAD can simplify the publicity process for pure shell zero-operation enterprises. Enterprises with running water need to publish liquidation announcements in two local newspapers in Arabic and English in UAE, and set a 45-day deadline for creditors to declare. During this period, creditors can register and claim for arrears. If the deadline is overdue, they will be deemed to have given up their claims automatically. The liquidators will sort out their claims and settle them.
Step 4: Prepare a formal liquidation audit report
the liquidator, in conjunction with a local certified accountant, combs through all financial flows and income and expenditure accounts of the company from registration to cancellation, and issues a final liquidation report with legal effect, setting out the details of debt settlement, asset disposal and return of remaining capital, which is submitted to the shareholders for signature and confirmation.
Step 5: Submit a full set of final cancellation materials online
log in to the official online government affairs platform of the free trade zone, upload shareholder resolutions, liquidation reports, tax clearance certificates, visa cancellation receipts, bank account cancellation documents, various settlement NOC documents, pay the administrative fees for cancellation of the free trade zone, and the audit department will carry out final verification of the data.
Step 6: Review and approve the free trade zone and withdraw the original business license
after the information is correct, the administration will cancel the electronic business license and commercial registration files, and cancel all business filing qualifications of the enterprise. If the data are missing and the accounts are in doubt, the supplementary materials will be returned to lengthen the processing cycle.
Step 7: Receive the official cancellation certificate and the legal entity will officially die out.
After the completion of the audit, an electronic version of the enterprise cancellation certificate will be issued, so that the legal entity of the company will be completely terminated, and the shareholders and directors will no longer bear the subsequent tax and commercial joint and several liabilities; the surplus funds can be remitted back to the domestic shareholders' accounts in compliance with the original route.
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