Is it possible to leave the UAE without canceling my company’s free zone license?’

By | October 22, 2019

There is one free zone in Fujairah and everyone has more than one variety of trade licenses. BG has not confirmed the precise created, thus recommendation will solely be general in nature. I asked Marianna Bulbuc, the chief executive of Bizzmosis Business Services, a specialist in UAE company formation, for her recommendation. She said: “As per the UAE business companies’ law, it’s obligatory for shareholders of any business to execute the corporate closure procedures and pay all needed closure fees to the license supplying authority. If a license is left to lapse past the expiration date, monthly penalties would be applied in sempiternity and this will cause a police/criminal case in the name of the shareholders against cumulated debt. Every free zone has individual procedures for company closure; process amount varies between one to 3 weeks and prices begin from Dh 2,800 and up to Dh 7,000 in free zones from the emirate of Fujairah.”

BG ought to speak to the relevant area concerning his case whereas it will take a bit of time and there are prices concerned, it’s sensible to travel through the cancellation method properly. The area can advise on the precise steps needed. Failure to try and do this can cause debts and this might cause a drag re-entering the UAE. There are even occasions once transiting through the country might be a difficulty.

CA is correct in getting a world Drivers permit as this can be a requirement to drive in Dubai in conjunction with your home country license. It’s seldom requested by the rental corporations however that doesn’t mean it isn’t a legal demand. Tourists might drive rental vehicles within the UAE with this stuff however anyone with a residency visa should get a UAE license.