About License Freezing:
Cancelling your trade license or liquidating your company is a serious decision to take and one that requires expert support throughout the process. There are several steps – some straightforward, others complicated such as obtaining NOCs from various governmental entities. An error or omission could result in significant fines – something you don’t need when shutting down your company.
Process:
- Issue a letter on the corporate letterhead requesting to freeze the license temporarily. The letter should contain details on the reasons and justifications behind the decision.
- Cancel all employment visas.
- Obtain a confirmation letter from the Ministry of Human Resources and Emiratisation mentioning that there are no sponsored people on the license. The letter must also confirm that labour restrictions are not imposed on the license.
- In the case of DED, the freezing fee of AED 2,000 per year along with AED 210 per each due month since license expiry date must be paid after application. A report from the inspection division in DED must also be submitted.
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How Madmun Consultancy can help you freeze your trade license?
Our team of dedicated, experienced PROs help you throughout the license freezing process by assisting with the application, fee payment and liaising with governmental entities.
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