Consultancy services

Consultancy services

LLC company liquidation procedures - UAE - Dubai

 

 

 

 

 

 

 

 

 

 

 

 

 

Steps and procedures for cancelling Limited Liability Company in UAE. will be according to the Federal Law No. 2 of 2015 on commercial companies law , articles from 306 to 326

First: Notice of Company’s Dissolution & Appointment of a Liquidator:

  • Submission of Registration & Licensing Application Form
  • Duplicate of official document showing dissolution of the company, appointment of a legal liquidator and mentioning his name and determining the method of liquidation. This may either be by a resolution of the company’s partners or general assembly duly notarized, or by court order.
  • Certified copy of the signature of company’s director(s), and the company’s legal liquidator, as the case may be, authenticated by the Notary Public.
  • Original Certificate of Registration in the Commercial Register + the original trade license.
  • Copy of the license of the liquidator + Certificate of condition auditor + Letter from the liquidator approving the liquidation of the company.


Second: Cancellation of license(s) & cancellation from the Commercial Registration:

  • Certificates issued in the other Emirates indicating cancellation of license(s) (if any).
  • Original copy of the final account of liquidation approved by the partners or general assembly and stamped by the legal liquidator.
  • No-objection letter concerning cancellation issued by the Ministry Of Human Resources & Emiratisation.
  • Visa Cancellation of the partner(s) in case they are sponsored by their license .
  • Copy of the notice of the company’s dissolution & appointment of a liquidator to be published in the official newspapers.
  • Letter from the partner for the agreement of the liquidation of the company.
  • Ministry of Economy resolution (concerning private shareholding).
  • UAE Securities and Commodities Authority resolution (concerning public shareholding).

 

For any inquiries, you can chat with us using WhatsApp or Telegram or fill the following form and we will get back to you as soon as possible:

Mobile: +971- 050-7948028

 

 

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Tax domicile certificate for companies - UAE - Dubai

Tax domicile certificate Is a certificate issued for eligible government entities, companies and individuals to take advantage of agreements of double taxation avoidance on income signed by the UAE.

 

Tax domicile certificate requirements for companies

  • A copy of the trade license and partners' attachment.
  • Establishment contract certified by official authorities (if it is not a Sole Company).
  • A copy of the company’s owners/partners/directors' passports.
  • A copy of the company’s owners/partners/directors' IDs.
  • A copy of the company’s owners/partners/directors' permits of residence
  • A certified copy of the audited financial statements report
  • A validated 6-month bank statement
  • A certified copy of the lease agreement
  • The organizational structure of the company (if it is not a Sole Company)
  • Tax forms (if any) of the country in which the certificate to be submitted.

If this is your situation

  • You want a certified copy of the audited financial statements report to complete the requirements required to get the domicile certificate of your company.

 

How we can support you:


Our audited financial statements report is accepted by UAE Ministry of Finance.

 

For any inquiries, you can chat with us using WhatsApp or Telegram or fill the following form and we will get back to you as soon as possible:

Mobile: +971- 050-7948028

 

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Business loans and bank facilities for SMEs - Islamic Banking - Dubai - UAE

 The Islamic Finance built on the fact that money itself has no intrinsic value; it is simply a medium of exchange. Each unit is 100% equal in value to another unit of the same denomination and you are not allowed to make a profit by exchanging cash with another person. A Muslim is not allowed to benefit from lending money or receiving money from someone.

This means that earning interest (riba) is not allowed – whether you are an individual or a bank. To comply with these rules, interest is not paid on Islamic savings or current accounts, or charged on Islamic mortgages.

How do sharia-complaint banking products work?

There are several ways that Islamic banks can structure accounts so that they are sharia-compliant.

Ijarah (Asset Rental): works as a leasing arrangement: the bank buys something for a customer and then leases it back to them. Different forms of leasing are permissible, including those where part of the instalment payment goes toward the final purchase. This might be used to help you buy a car or other item, or to help a business buy equipment.

Murabaha (Pre-agreed Profit): works by the bank supplying goods for resale to the customer at a price that includes a margin above the costs, and allows them to repay in installments. This might be used to provide a mortgage on a property. The property is registered to the buyer from the start.

Musharka (Partnership): is a joint venture in which the customer and bank contribute funding to an investment or purchase and agree to share the returns (as well as the risks) in proportions agreed in advance.

Wakala: is an agreement that the bank will work as the individual's agent. If a saver enters into this type of agreement, the bank can use their cash to invest in sharia-compliant trading activities to generate a target profit for them.

Istisna'a (Contracting): Istisna'a is a sales contract of specified items to be manufactured or constructed with an obligation on the part of the manufacturer or builder (contractor) to deliver them to the customer upon completion.

Letter of Credit: Whether importing for local consumption or for re-export, the bank is geared to handle all requirement for letters of credit to best suit customer needs. Just state your requirements and the bank will customize the most appropriate Letter of Credit for you (transferable, revolving, standby, etc.)

Letter of Guarantee: The bank prepares and issues all kinds of financial instruments, including letters of guarantee drawn up under strict Sharia'a principles. The range requirement covered includes bid bonds, performance bonds, advance payment guarantee, and guarantees for retention monies, maintenance, Labor or Customs duty.

 

If this is your situation

  • You have a cash flow issues, causing a problem when you’re dealing with your customers who don’t pay for services or when you have unsold inventory that needs to be moved to bring in new products.
  • You need a money to be used for your regular operational costs, and can help your business stay afloat when profits are low.
  • You need to invest in an expansion opportunity for your business.
  • You’re planning on needing a large loan in the future for business expansion or upgraded equipment, it may be smart to take out a smaller loan first, especially if your business doesn’t have a credit history.

How we can support you:


It is very common practice that banks will need various requirements to be eligible to finance your business , accordingly, we will be able to support you as follow :

  • It is common practice for most of the banks in UAE to ask for 2 or 3 years audited financial statements report and since we are licensed auditors then we will be able to provide the required audit reports to the banks

 

Conditions to know if your business eligible to get the bank facilities:

Banks usually combine or more conditions from the following

  • Average Monthly Credit Balance in Current Account of AED 10,000 or 100,000 or 250,000 and more Or/And
  • Any financing facility Or/And
  • Minimum Length of Business is 3 years Or/And
  • Minimum 2 years of involvement of Managing Partner in business Or/And
  • Nil Cheque Return in last six months Or/And
  • Minimum Annual Sales of AED 2 Million. Or/And
  • Annual sales turnover between AED 1 Million and AED 100 Million

 

Documents mostly required by the banks

  • Company profile and valid legal documents including
  • Passport copies of all owners
  • Commercial registration
  • Business and/or Trade License
  • Articles of Association or partnership documents
  • Chamber of commerce certificate
  • Audited financial statements for at least 2 or 3 years
  • Bank statements for 12 months
  • Facilities request letter
  • Any other documents (as required by the Bank)

 

List of Islamic banks in UAE:

  • ADIB - Abu Dhabi Islamic Bank

  • Al Hilal Bank

 

  • Ajman Bank

 

  • Dubai Islamic Bank

 

  • Emirates Islamic Bank

 

  • Noor Bank

 

  • Sharjah Islamic Bank

 

 

For any inquiries, you can chat with us using WhatsApp or Telegram or fill the following form and we will get back to you as soon as possible:

Mobile: +971- 050-7948028

 

 [No form id or name provided!]

Economic feasibility study service - Dubai - UAE

 

 

 

 

 

 

 

 

 

 

Economic feasibility study aims to estimate the cost and logistical outlook for a business project or endeavor. Prior to embarking on a new venture, most businesses conduct an economic feasibility study, which is a study that analyzes data to determine whether the cost of the prospective new venture will ultimately be profitable to the company.
Also, feasibility study aims to objectively and rationally uncover the strengths and weaknesses of an existing business or proposed venture, opportunities and threats present in the environment, the resources required to carry through, and ultimately the prospects for success. In its simplest terms, the two criteria to judge feasibility are cost required and value to be attained.

 

If this is your situation

  • You want to define the business requirements that must be met by the selected project and include the critical success factors for the project.
  • You need to get the detail alternative approaches that will meet business requirements, including comparative cost/benefit and risk analyses.
  • You need a recommendation for the best approach for preparing a business case or moving through the implementation process.

 

How we can support you:


Our economic feasibility studies can give you the following advantages: :

  • Gives focus to the project and outline alternatives.
  • Narrows business alternatives
  • Identifies new opportunities through the investigative process.
  • Identifies reasons not to proceed.
  • Enhances the probability of success by addressing and mitigating factors early on that could affect the project.
  • Provides quality information for decision making.
  • Provides documentation that the business venture was thoroughly investigated.
  • Helps in securing funding from lending institutions and other monetary sources.
  • Helps to attract equity investment.

 

For any inquiries, you can chat with us using WhatsApp or Telegram or fill the following form and we will get back to you as soon as possible:

Mobile: +971- 050-7948028

 

 [No form id or name provided!]

Business valuation services for SMEs - UAE - Dubai

What is business valuation for SMEs service?

Business valuation for SMEs is defined as "the act or process of determining the value of a business related to small and medium size enterprises or ownership interest therein." The type of business valuation required on an assignment is contingent on the purpose of the engagement.

Read more: Business valuation services for SMEs - UAE - Dubai