COMPANY LIQUIDATION / VAT REGISTRATION
Company Liquidation and VAT Deregistration Services in UAE
Royal Class Business Services LLC offers comprehensive services for company liquidation and VAT deregistration in the United Arab Emirates (UAE).
Company Liquidation Process:
Resolution and Appointment: We assist in convening a board meeting to resolve to initiate the liquidation process and appoint a liquidator.
Clearances: We help in obtaining clearances from appropriate authorities like telecommunication providers, SEWA, etc.
Publication: Before winding up, we ensure the company publishes the closure news in at least two local dailies, with one in Arabic, for 45 days.
Liquidator’s Report: Our team facilitates the liquidator in generating and submitting a liquidation report to the licensing authority.
Certification: Upon submission of the liquidator’s report, the licensing authority issues a certification of liquidation and closes down the business.
VAT Deregistration Process:
Criteria: We determine if the company meets the criteria for VAT deregistration, such as ceasing to deal in taxable merchandise or having a value of taxable supply less than the criterion for approximately 12 consecutive months.
FTA Approval: We liaise with the Federal Tax Authority (FTA) to obtain approval for VAT deregistration, ensuring completion of VAT returns, clearance of tax liabilities, and clearance of administrative penalties.