Trade License & Bank Account Closure in Dubai
Essential Final Steps for a Legally Compliant Business Shutdown
Trade license and business bank account closure are mandatory in all Dubai liquidation cases. CapitalClosure handles both processes end-to-end ; ensuring no penalties, blacklisting, or delays from DED, Free Zones, or UAE banks.
Why License & Bank Account Closure Matters
If you’re liquidating your company in Dubai, you cannot finalize the process unless your:
- Trade license is canceled (with the issuing authority)
- Company bank accounts are closed (with final clearance)
Leaving either open may result in:
- Ongoing license renewal fees
- Legal notices or fines
- Freezing of assets or Emirates ID blacklisting
- Inability to re-register new businesses under your name
“UAE law mandates full deregistration with DED or Free Zones, and banks require final resolutions and NOCs before closing company accounts.”
Legal Compliance Specialist, Dubai
Trade License Cancellation: What We Do
Steps | Description |
Review of Documents | Confirm trade license details and renewal status |
Submission of Liquidation Documents | Final audit, clearance NOCs, board/shareholder resolutions |
Application to Licensing Authority | Submit request to DED or Free Zone with all documentation |
Final Approval & Certificate | 0btain license cancellation certificate for complete deregistration |
We Handle Trade License Cancellation for:
- DED Mainland Companies
- Free Zone Companies (DMCC, JAFZA, RAKEZ, DAFZA, Dubai South, etc.)
- Offshore Companies (RAK ICC, JAFZA Offshore)
- DIFC / ADGM Entities
Company Bank Account Closure: What We Do
Step | Description |
| Review of Documents | Check for pending transactions, liabilities, or dormant balances |
| Prepare Closure Requests | Draft letters and obtain board/shareholder approval documentation |
| Liaise with Relationship Managers | Coordinate directly with banks like Emirates NBD, ADCB, FAB, Mashreq, etc. |
| Withdraw or Transfer Funds | Return residual funds to owners or pay final dues |
| Obtain Closure Confirmation | Get final statement & bank-issued account closure letter |
Required Documents for Bank Account Closure:
- Board Resolution for liquidation
- Trade License copy
- Passport/Emirates ID of authorized signatory
- Final audit or liquidation report (if applicable)
- Clearance NOC (in some cases)
Google Reviews from Dubai Clients
Why Choose CapitalClosure?
Specialists in Dubai company deregistration
Relationships with all major UAE banks and Free Zones
Fully compliant with DED, FTA, and MOHRE requirements
Bilingual team for smooth bank communication
Transparent fixed pricing
Close Your Trade License & Bank Account Without Delays
We coordinate with licensing authorities and banks to ensure a smooth, compliant, and stress-free closure, so you can move forward with peace of mind.
Frequently Asked Questions?
Can I cancel the trade license before closing the bank account?
No. In most cases, licensing authorities will ask for bank closure proof or NOC first.
Will the bank require physical presence?
Some banks do. But we can assist with Power of Attorney setup or remote coordination
What if my account has a negative balance?
The bank will not close the account until the balance is cleared. We can help structure the settlement.
What’s the risk of not canceling a trade license?
You may continue to incur license renewal penalties and risk legal action or travel bans.
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Finalize Your Company Closure , Legally & Completely
