I am unable to return to the UAE. How can I close my business?

  • Date: 03-May-2021
  • Source: Gulf News
  • Sector:Economy
  • Country:UAE
  • Who else needs to know?

I am unable to return to the UAE. How can I close my business?

Dubai: Stuck outside the UAE and want to shut down your business? As the COVID-19 pandemic makes people's work and personal life take unpredictable turns, a Gulf News reader wrote in, asking what he could do to liquidate his business, as he was struggling to return to the country. He said: "I am have to close down my business in the UAE. I am stuck in India at the moment, and I don't think I will be able to come to the UAE anytime soon, as I am also facing some personal emergencies with my family. I spoke to my lawyer and wanted to give him the power of attorney to complete the process from my end. But I have heard that this would take a long time. Considering the situation I am in, I don't want to run up any losses, so what is the easiest and quickest way to close my business? Please help." Gulf News spoke with business setup consultants in the UAE, who said that during COVID-19, government departments had made it easier for business owners to set up and liquidate business by shifting many of the procedures online. Cancelling the licence of a mainland company