{"id":6537,"date":"2021-09-14T12:30:31","date_gmt":"2021-09-14T12:30:31","guid":{"rendered":"https:\/\/www.anuvibs.com\/?p=6537"},"modified":"2026-02-05T10:07:38","modified_gmt":"2026-02-05T10:07:38","slug":"freezing-of-license-an-alternative-to-closing-liquidating-of-business-due-to-financial-crisis-for-3-years","status":"publish","type":"post","link":"https:\/\/www.anuvibs.com\/blog\/freezing-of-license-an-alternative-to-closing-liquidating-of-business-due-to-financial-crisis-for-3-years\/","title":{"rendered":"Freezing of License \u2013 An Alternative to Closing\/Liquidating of Business due to Financial Crisis for 3 Years"},"content":{"rendered":"<p>The impact of Coronavirus (COVID-19) is being felt by all businesses around the world. Arab states\u2019 second largest economy, the UAE, is also suffering from the impact of COVID-19. \u201cTrade, tourism and transportation\u201d the foundations of the UAE economy have had a serious impact on businesses in the UAE.<\/p>\n<p>This has forcefully resulted thousands of Companies to cease\/liquidate their business. But nothing is permanent in the world, not even this pandemic and positively all will be back to normal within sometime. Closing the Company in the UAE is a multi-step procedure that involves liquidation of the company and assets, paying creditors, etc. and on the other hand setting up a new business from the starting can be time consuming and hectic.<em>\u00a0<\/em>So,\u00a0<strong><em>is there any other alternative which suits the requirement of the Business Owner?<\/em><\/strong><\/p>\n<p>&nbsp;<\/p>\n<p><img decoding=\"async\" class=\"size-full wp-image-6542 aligncenter lazyload\" data-src=\"https:\/\/www.anuvibs.com\/wp-content\/uploads\/2021\/09\/1.jpg\" alt=\"\" width=\"1600\" height=\"901\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1600px; --smush-placeholder-aspect-ratio: 1600\/901;\" \/><\/p>\n<p>&nbsp;<\/p>\n<p>If you own a Company and it is undergoing any restructuring of financial liabilities or wants to avoid liquidation or prevent losses, then\u00a0<strong><em>freezing your Business License<\/em><\/strong>\u00a0for a specified period would be a better option. By doing this you can retain your trade name and Business License keeping it inactive for as long as 3 (three) years with\u00a0<strong><em>no further<\/em>\u00a0<em>renewal fees during that period<\/em><\/strong>\u00a0and you do not have to go through the whole process of starting your business again.<\/p>\n<p>The Company cannot carry on with any of its operations, once the license is frozen as it would be illegal till the renewal. But the owner or shareholders of a frozen license can start new business in Dubai, by applying for a new license under his name.\u00a0<strong><em>A license will automatically be cancelled if it is not renewed for 5 continuous years.<\/em><\/strong><\/p>\n<p><a href=\"https:\/\/ded.ae\/\" target=\"_blank\" rel=\"nofollow noopener\"><strong>Department of Economic Development<\/strong><\/a><strong>\u00a0(DED)<\/strong>\u00a0allows a Company to freeze its license only when no more employees are dependent on the Company, all VISAs have been cancelled as well as all governmental charges have been paid off and there is no pending litigation or legal action against the Company at the time of applying for freezing of license.<\/p>\n<p>&nbsp;<\/p>\n<p><img decoding=\"async\" class=\"size-full wp-image-6538 aligncenter lazyload\" data-src=\"https:\/\/www.anuvibs.com\/wp-content\/uploads\/2021\/09\/3.jpg\" alt=\"\" width=\"540\" height=\"405\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 540px; --smush-placeholder-aspect-ratio: 540\/405;\" \/><\/p>\n<p>&nbsp;<\/p>\n<p><strong>The procedure<\/strong>\u00a0for freezing a license is as follows:<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Issuing a letter on Company letterhead requesting to temporarily freeze the license.<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0The letter should contain details or the reasons and justifications behind the decision.<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Canceling all employment VISAs.<\/p>\n<p>\u00b7\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0Obtaining a confirmation letter from Ministry of Human Resources and Emiratization mentioning that there are no sponsored people on your license. The letter must also confirm that labor restrictions are not imposed on the license.<\/p>\n<p>No creditors will lose their claim against the Company with frozen license.\u00a0<strong><em>If a creditor initiates a court case against the Company with frozen license,<\/em><\/strong>\u00a0DED will intimate the owner of the Company and activate the license immediately.<\/p>\n<p>&nbsp;<\/p>\n<p><img decoding=\"async\" class=\"size-full wp-image-6539 aligncenter lazyload\" data-src=\"https:\/\/www.anuvibs.com\/wp-content\/uploads\/2021\/09\/4.jpg\" alt=\"\" width=\"1000\" height=\"667\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 1000px; --smush-placeholder-aspect-ratio: 1000\/667;\" \/><\/p>\n<p>&nbsp;<\/p>\n<p><strong><em>Any partner of a Company with an expired license<\/em><\/strong>\u00a0will be blocked from renewing or registering any other new or existing licenses they might have under their name.<\/p>\n<p>Once you plan to restart after the completion of the freeze period, the manager or shareholders must apply for renewal with a valid lease contract registered in Ejari at the Department of Economic Department.<\/p>\n<p>If the Company\u2019s owner doesn\u2019t renew his license, a fine is imposed. All emirates and free zones have different fines, as such AED 2500 in Department of Economic Development (DED), and such fines can be applied on monthly or yearly basis. A frozen license can stop the accumulation of fines during the freezing period of the license and liquidation can also be avoided.<\/p>\n<p>Nobody would like to close the\u00a0<a href=\"https:\/\/www.anuvibs.com\/\" target=\"_blank\" rel=\"nofollow noopener\">Company<\/a>\u00a0if he can suspend the business temporarily and be prevented from paying the license non-renewal fines and can keep the license by freezing it for some time and resume it once you are back on track,\u00a0<strong><em>WHY NOT OPT FOR IT!<\/em><\/strong><\/p>\n<p>&nbsp;<\/p>\n<p><img decoding=\"async\" class=\"size-full wp-image-6540 aligncenter lazyload\" data-src=\"https:\/\/www.anuvibs.com\/wp-content\/uploads\/2021\/09\/5.jpg\" alt=\"\" width=\"830\" height=\"553\" src=\"data:image\/svg+xml;base64,PHN2ZyB3aWR0aD0iMSIgaGVpZ2h0PSIxIiB4bWxucz0iaHR0cDovL3d3dy53My5vcmcvMjAwMC9zdmciPjwvc3ZnPg==\" style=\"--smush-placeholder-width: 830px; --smush-placeholder-aspect-ratio: 830\/553;\" \/><\/p>\n<p>&nbsp;<\/p>\n<p>In case you require any further information or clarification, feel free to contact us at below given details:<\/p>\n<p><a href=\"https:\/\/www.anuvibs.com\/\" target=\"_blank\" rel=\"nofollow noopener\"><strong><em>\u00a0ANUVI BUSINESS SOLUTIONS<\/em><\/strong><\/a><\/p>\n<p><a href=\"http:\/\/mailto:info@anuvibs.com\/\" target=\"_blank\" rel=\"nofollow noopener\">info@anuvibs.com<\/a><\/p>\n<p>+971 50 409 2494<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The impact of Coronavirus (COVID-19) is being felt by all [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":81082,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[12,9,10,13,15,38],"class_list":["post-6537","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-anuvibs-business-solutions","tag-anuvibs-business-setup-in-dubai","tag-business-setup-in-uae-llc","tag-business-setup-service-providers","tag-company-formation-in-uae","tag-freezone-company-formation","tag-tradelicense"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.2 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Freezing of Trade License in Dubai UAE<\/title>\n<meta name=\"description\" content=\"The impact of Coronavirus (COVID-19) is being felt by all businesses around the world. Arab states\u2019 second largest economy, the UAE, is also suffering from the impact of COVID-19. \u201cTrade, tourism and transportation\u201d the foundations of the UAE economy have had a serious impact on businesses in the UAE. This has forcefully resulted thousands of Companies to cease\/liquidate their business. But nothing is permanent in the world, not even this pandemic and positively all will be back to normal within sometime. Closing the Company in the UAE is a multi-step procedure that involves liquidation of the company and assets, paying creditors, etc. and on the other hand setting up a new business from the starting can be time consuming and hectic. 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This has forcefully resulted thousands of Companies to cease\/liquidate their business. But nothing is permanent in the world, not even this pandemic and positively all will be back to normal within sometime. Closing the Company in the UAE is a multi-step procedure that involves liquidation of the company and assets, paying creditors, etc. and on the other hand setting up a new business from the starting can be time consuming and hectic. 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Arab states\u2019 second largest economy, the UAE, is also suffering from the impact of COVID-19. \u201cTrade, tourism and transportation\u201d the foundations of the UAE economy have had a serious impact on businesses in the UAE. This has forcefully resulted thousands of Companies to cease\/liquidate their business. But nothing is permanent in the world, not even this pandemic and positively all will be back to normal within sometime. Closing the Company in the UAE is a multi-step procedure that involves liquidation of the company and assets, paying creditors, etc. and on the other hand setting up a new business from the starting can be time consuming and hectic. 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But nothing is permanent in the world, not even this pandemic and positively all will be back to normal within sometime. Closing the Company in the UAE is a multi-step procedure that involves liquidation of the company and assets, paying creditors, etc. and on the other hand setting up a new business from the starting can be time consuming and hectic. 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Arab states\u2019 second largest economy, the UAE, is also suffering from the impact of COVID-19. \u201cTrade, tourism and transportation\u201d the foundations of the UAE economy have had a serious impact on businesses in the UAE. This has forcefully resulted thousands of Companies to cease\/liquidate their business. But nothing is permanent in the world, not even this pandemic and positively all will be back to normal within sometime. Closing the Company in the UAE is a multi-step procedure that involves liquidation of the company and assets, paying creditors, etc. and on the other hand setting up a new business from the starting can be time consuming and hectic. 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