Liquidation involves submitting a resolution, clearing liabilities, auditing, publishing notices, and submitting final documents to authorities, fully handled by our team.

Yes, you can. The liquidation process itself typically does not require your physical presence or a Power of Attorney (PoA). However, if bank assets need to be liquidated, a PoA might be necessary, though in some jurisdictions, this can alternatively be handled through a formal board resolution. Onecentive will guide you through the appropriate steps based on your company’s location and specific circumstances, ensuring a smooth and compliant liquidation process.

Once your trade license is officially cancelled, your company must also be deregistered with the Federal Tax Authority (FTA) for both VAT and Corporate Tax, if applicable. The FTA allows a short grace period for deregistration, but failure to complete this step can result in fines. At Onecentive, we ensure timely and accurate tax deregistration, closing out your tax obligations cleanly and preventing future penalties or legal issues.

The estimated timeline for liquidation is typically seven to nine weeks, but delays can occasionally arise due to processing times from authorities such as the security department, immigration, or other regulatory bodies. Additionally, deregistration with the Federal Tax Authority (FTA) for VAT and Corporate Tax may extend the process depending on the complexity of your company’s transactions and the status of tax return filings.

Generally, no, once liquidated and deregistered, the license cannot be reinstated, and a new company must be formed.