Deregistration of Companies in the Jebel Ali Free Zone
Type
E-journal
Date
12 May 2016
Jurisdiction
Dubai
Taxonomy
General Company Law & Business Entities
Copyright
LexisNexis
Relevant company
Al Tamimi & Company
Analysis
Whilst the Jebel Ali Free Zone (“JAFZ”) in Dubai is probably the most successful free zone in the Emirate of Dubai, given the number of companies which have registered there since it was formed in 1985, it is not uncommon to see companies ‘shutting up shop' in JAFZ for numerous reasons. In this article we look at factors, procedures and requirements which need to be addressed by a company wishing to deregister their business within JAFZ. Whilst the procedures and requirements listed in this article may look and seem to form a systematic approach to deregistering a company, from our practical experience, many obstacles may lie in hiding which require professional legal advice and assistance to resolve.
Procedures and Requirements
Firstly the shareholder/s must take the decision to deregister their company in JAFZ - this decision should be in the form of a board resolution with the proper legalization procedure adhered to where applicable.
Jebel Ali Free Zone Authority (“JAFZA”) should be notified of the shareholders desire to deregister their company in the free zone by arranging for an exit interview with the Customer Relations Department at JAFZA.