Closing UAE FZE company

[alischuler83]

Hello.

I tried to open bank account for UAE freezone company but all rejected...
How to close freezone company? Is it possible to do that without travelling there? There is no bank account and no activity on that company and licence will expire on the begining of the next year.

 

[Nesso]

Hi, you must pay to close it, the cost depends on which Freezone you registered‌ in... You can see with your agent to close it as well.
Which Ftz is‍ it? Do you have a virtual office or private one? Why the banks rejected you?⁠

 

[alischuler83]

Banks now are not opening for FZE...or maybe they do⁠ but its very very hard to open. I tried more than 6 months. Its UAQ.⁤ I know that I have to pay but is it possible to close but not⁣ go there by person ? It'svirtual office.

 

[Nesso]

Through your agent you can, just ask for⁤ the procedure.
Did you got a residence visa?
Many people got their account closed. Northern⁣ Emirates Ftz are not good enough for UAE banks. You can try CIM bank in⁢ Switzerland or other EMI.

 

[alischuler83]

I wanna close it permamntly. I have got visa.

 

[WoWNull]

hmmm strange that u get it open in⁤ UAQ, I am in residence and they didn't allow me @@".

to close it mainly⁣ you need to go by your self, but you can ask your agent who make⁢ it for you to do the process if you gave him some PoA.

 

[Nesso]

Instead, he didn't get⁤ a bank account for his UAQ FZE.
I heard that if you don't have a⁣ physical office (not a virtual office or smart desk) it's near to impossible to have⁢ a UAE bank account unless you have already a company there or good introducer.

 

[brimstone]

It's difficult indeed. I was lucky enough to open a bank account with a flexi‌ desk in 2017. It took almost 2 months though and I had to give them‍ the intention I would consider one of their "investment" packages once my account was set⁠ up.