Here is the procedure for liquidating a corporation in the Dubai South (previously known as DWC) Zone:
A board resolution for the Free Zone Company (FZC) must be approved and signed by all the BOD and the branch of a foreign/local company. It must include the clause for the closure and authorization in the Board Resolution that is passed. It should also include the name and bank account information of the people to whom all deposits are to be made after the business is closed down.
The Immigration Card should be cancelled, and the immigration details should be received and retained because the Visa Department will treat it as an invoice later.
The following permissions must be secured at the time of liquidation and after the Board Resolution is passed in order for the liquidation procedure to proceed.
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