Formation of a JAFZA Company
Of the seven emirates that comprise the United Arab Emirates, the Emirate of Dubai is the most populous and, after Abu Dhabi, the second largest in terms of land. On the Arabian Peninsula, to the south of the Persian Gulf, sits the Emirate of Dubai. The Emirate of Dubai has more than 20 free zones (FZ) on its land.

Established in 1985, Jebel Ali Free Zone (JAFZA) is among the UAE’s oldest free zones. This free zone is regarded as the best location for carrying out international trade because of its first-rate infrastructure.

More than 7.500 companies are registered in JAFZA and conduct their business, including branches of the world’s largest companies in the field of production and trade. Excellent conditions are provided for doing business in the field of production, trade, logistics, as well as the provision of professional services, etc., which gives great opportunities to foreign investors, many of whom have already opened their business in JAFZA.

More than 7,500 businesses, including branches of the biggest production and commerce companies in the world, are registered and operate in JAFZA. Foreign investors, many of whom have already established their businesses in JAFZA, have a lot of prospects because of the excellent circumstances offered for conducting business in the areas of production, trade, logistics, and professional services, among other areas.

starting at 6,000 AED

JAFZA Approved Liquidators

JAFZA is among the worlds most rapidly growing free zones. In JAFZA, the liquidation procedure begins with the appointment of a professional liquidator to wind up the business. When a company collapses, it must liquidate its assets. At times, the companies are forcibly dissolved If you own a company in JAFZA, you must follow a different set of rules. The authority of the particular territory determines the regulations in the UAE. No company owner wants to spend their time on a project that is boundto fail. As a result, the company’s choice to begin liquidation as soon as possible will be a wise decision.

Documents required for a JAFZA company to start liquidation in UAE

→ De-registration form

→ A board resolution from the company

→ Appointment of liquidator letter

→ Confirmation of liquidator

Clearances needed for JAFZA company liquidation in UAE

Once the board resolution is passed, the following clearances are needed to proceed with the liquidation steps:

→ Bank account closure letter

→ Clearance letter from Emirates Post

→ Clearance letter from Customs

→ Clearance letter from DEWA, Etisalat, and RTA

→ Clearance documents from JAFZA Finance Department

→ VAT Clearance certificate and TRN de-registration certificate

→ Clearance from relevant government entities in connection to the company that will be liquidated

Liquidation services in JAFZA, UAE

Reyson Badger is a significant accounting firm in the UAE, with operations in both free zones and the mainland Our auditors have helped several companies in JAFZA with liquidation services. The team members of Reyson Badger are highly experienced and knowledgeable about the regulation of liquidation and its process in JAFZA as a JAFZA licensed liquicktor. Before the companys license is revoked our team double-checks that all clearances hove been completed The following are the services that a company can expect from us in connection with the liquidation of a JAFZA corporation:

→ Assign one of the best team members to execute the liquidation

→ Ensure all the necessary documents and clearances are in hand for the company’s liquidation

→ Make sure that the company submits all the documents on time to prevent any penalties

→ Conduct a final audit for your company

JAFZA approved auditors

JAFZA audit service

JAFZA : An overview

Jafza is Economic Zones World’s flagship operation and one of the world’s largest and the fastest growing free zones. Established in 1985, Jafza today is spread over an area of 48 sq. kms and is home to over 6400 companies, including over 120 of the Fortune Global 500 enterprises, from across the world. It is a leading driver of the burgeoning UAE economy. With its impeccable track record, Jafza stands for innovation, customer centricity, transparent operations and entrepreneurial dynamism.

• Grown its customer base by over 60%
• Increased its revenue at an average of 34% year-on-year
• Contributed to Dubai’s GDP at 25% on a year-to-year basis
• Sustained more than 160,000 jobs in the UAE
• Accounted for more than 50% of Dubai’s total exports
• Accounted for 20% of all FDI inflow into the UAE

JAFZA approved auditors

Saif Chartered Accountants play significant role in the auditing of companies of Jebel Ali Free Zone.

DMCC Auditors and Liquidators for your DMCC Company Audit and DMCC Company Liquidation (Chartered Accountants Audit Firm in DMCC and Auditors in Dubai Multi Commodities Centre (DMCC)

Exl Auditors. As authorised auditors of DMCC Companies, we are registered auditors with the DMCC and an approved audit firm inside the DMCC. Our consultants for the registration of DMCC Companies have been approved. The list of audit companies and auditors who have received DMCC approval includes our name. We have served more than 200 businesses as DMCC’s authorised auditors and consultants, offering audit, accounting, and bookkeeping services. We have a team of committed and DMCC-expert auditors and consultants to meet the legal and regulatory needs of the Dubai Multi Commodities Centre (DMCC), as it is one of the most regulated free zones in the United Arab Emirates. We are on the list of accredited auditors and approved company liquidators maintained by the Dubai Multi Commodities Centre (DMCC).

The audited financial accounts of every DMCC-registered firm must be submitted within 4 months after the conclusion of the company’s fiscal year. The DMCC-approved audit firms in Dubai or DMCC-approved auditors themselves should audit financial accounts. The DMCC has its own process for approving firms of chartered accountants. All UAE accounting firms, including chartered accountant firms, must register before they can audit DMCC entities. The DMCC website has a list of authorised liquidators and auditors. DMCC organisations should have their audits carried out in compliance with international standards for auditing (ISA). Our auditors are skilled and knowledgeable, serving DMCC clients. Our audit and accounting specialists have created a technique that we believe is the most successful and efficient auditing approach available today. As one of our clients, you will take advantage of our best auditing technique, which enables us to pinpoint the dangers your company is facing and guarantees an extensive, meticulous audit (review) of your company’s financial operations.

We are authorised liquidators in the DMCC for DMCC Company winding up, DMCC License termination, and DMCC License cancellation. We are knowledgeable with all DMCC (Dubai Multi Commodities Centre) firm liquidation processes and associated legal issues. For your DMCC company licence cancellation or termination resolution, all you need to do is designate us as your liquidator. Our knowledgeable liquidators will handle the preparation of all the liquidation documents, utility cancellations and clearance certificates, bank account closure, no liability certificate, audited balance sheet for liquidation (financial statements) and liquidation report for your DMCC company liquidation. Your regular working environment and routine will be minimally disrupted by our working technique.

For additional guidance about your audit and liquidation needs, don’t hesitate to reach out to us at any time at +971 50 431 8384 or via Contact Us.

DMCC Approved Liquidators in UAE

When a business is unable to run its activities, they must liquidate its assets. This is sometimes referred to as ‘License Cancellation’ or ‘License Termination.” In each zone, the liquidation procedure and regulations vary. In DMCC, the procedures and methods for liquidation are distinct from those in other zones. Closing a business is a difficult undertaking that necessitates a great deal of paperwork and legal labour. In DMCC, the Liquidator simplifies complicated procedures and assists the company with the liquidation process. The approved liquidators of the DMCC assist the company in winding up in accordance with UAE company legislation. A liquidator is appointed by the court or by the shareholders.

Types of DMCC Company Liquidation

The type of liquidation to be chosen is determined by the conditions that lead to the company’s closure.

The following are the several forms of DMCC Company Liquidations that can be done.

→ Summary Winding up – This is winding up when a companys director announces that the firm

can be wound up within six months.

→ Solvent Winding Up – This is a form of winding up that is done when the business s director states that the company can be wound up within a year.

→ Insolvent Voluntary Winding Up – This sort of winding up is done when a companys debts to creditors must be paid. This wind-up is done willingly by the company, as the name implies.

→ Involuntary Winding Up by The Competent Court – This sort of winding up occurs when the company receives instructions to wind up from the DMCC authorities. The company may be served with the order in the following circumstances:

(a) If the company has been struck off or

(b) When the company has broken the DMCC’s regulations.

The Dubai Development Authority
UAE Development Authority: accountants and auditors
The Dubai Development Authority was created and given its name by the Dubai government in accordance with Law No. 15 of 2014 and Law No. 10 of 2018. The modification reflects the entity’s expanded responsibility to supervise development control, municipal, economic, and immigration functions across a number of master developers in Dubai’s free zone clusters and other communities.
When incorporating, businesses can select from a variety of legal structures. They are as follows:

A limited liability business in a free zone

(FZ-LLC) is a distinct legal entity that has either individual or corporate shareholders. The business activity determines the minimum capital needed for incorporation.

A branch of a UAE or international business
A branch of a foreign or UAE firm is regarded as a location of business that functions as a legally dependent component of the parent company and carries out all or parts of the operations that are inherent in the parent company’s operations; it is not a legal entity distinct from its parent. To establish a branch, no share capital is needed.

Freelancer
The opportunity to work as a freelance professional is provided by the freelance permit. The permission allows you to operate your firm using your given name rather than a brand name and identifies you as a lone practitioner.

DDA Company Liquidation
procedures for the liquidation of businesses under the Dubai Development Authority (DDA), formerly the Dubai Creative Clusters Authority (DCCA).
Dubai Development Authority (DDA) Prior to the implementation of Law 10 of 2018, the DDA was known as the Dubai Creative Clusters Authority (DCCA).

DDA Company Liquidation
procedures for the liquidation of businesses under the Dubai Development Authority (DDA), formerly the Dubai Creative Clusters Authority (DCCA).
Dubai Development Authority (DDA) Prior to the implementation of Law 10 of 2018, the DDA was known as the Dubai Creative Clusters Authority (DCCA).

For your DAFZA company audit and DAFZA company liquidation, contact DAFZA Auditors and Liquidators (Dubai Airport Free Zone Authority (DAFZA) and a chartered accounting audit firm in DAFZA).
As an authorized audit firm in the DAFZA Free Zone and registered auditor of DAFZA firms, Dawn Consultancy is a member of EXL Auditors. We are authorized advisers for the registration of DAFZA companies. The list of DAFZA-approved auditors and audit firms includes our name. More than 100 organizations have benefited from our audit, accounting, bookkeeping, and consulting services as authorized DAFZA auditors and consultants. We have a team of committed and knowledgeable DAFZA auditors and consultants to meet the legal and regulatory needs of our clients in the Dubai Airport Free Zone (DAFZA), which is one of the regulated free zones in the United Arab Emirates. We are included among the authorized auditors and DAFZA-approved company liquidators in the Dubai Airport Freezone (DAFZA).

Within four months of the end of their fiscal year, all DAFZA-registered businesses must submit their audited financial statements. The DAFZA-approved auditors or DAFZA-approved audit companies in Dubai should audit the financial statements. To authorize chartered accounting firms to audit DAFZA companies, DAFZA has its own process. Not all UAE accounting firms and chartered accountants are permitted to audit DAFZA companies; they must first complete the registration process. The DAFZA website has a list of authorized auditors and liquidators. International Auditing Standards (ISA) should be followed when auditing DAFZA enterprises. Our DAFZA clients are served by knowledgeable and skilled auditors. Our accounting and audit professionals have created an approach that we believe is the most successful and efficient in the field right now. As our client, you will gain from the best auditing technique, which enables us to pinpoint the dangers your company faces and guarantees a thorough, high-caliber audit (review) of its financial operations.

We are authorized DAFZA liquidators for DAFZA company winding up, DAFZA company liquidation, DAFZA license cancellation, and DAFZA license termination. We are knowledgeable about the legal issues of DAFZA company liquidation as well as the DAFZA company liquidation procedures. Our skilled DAFZA Company liquidators will handle all the liquidation paperwork, utility cancellations and clearance certificates, bank account closure, no liability certificate, audited balance sheet for liquidation (financial statements), and liquidation report for DAFZA company liquidation; all you need to do is designate us as your DAFZA company liquidator for the resolution of your DAFZA company license cancellation or termination. Our working methods will cause the least amount of disturbance to your regular work schedule and surroundings.