Ajman is home to many owner-managed companies: small traders, contracting firms, workshops and service providers, some licensed through Ajman DED and others through Ajman Free Zone. When the owner decides to stop, the practical problems are rarely legal theory. They are unpaid supplier invoices, a partner who has left the country, a second licence nobody remembers and tax filings that slipped. Young & Right supports the accounts, tax-deregistration and paperwork side of a closure. Acting as a liquidator is a licensed role, and we do it only where we are engaged and licensed to do so.
Request a ConsultationA plain-language review of everything the company owes and is owed, including amounts that exist only in the owner's memory
Rebuilding missing or untidy records into usable final accounts, where the books have not been kept up to date
Checking whether VAT and Corporate Tax registrations exist, whether returns are outstanding and what must be filed before deregistration
Establishing the position of each partner, including capital contributions, current accounts and amounts to be returned
Preparing summaries for the bank, the landlord and the licensing authority so each is answered with consistent figures
Advice on records for closed or dormant licences that remain under the same owner
Please gather every licence the owner holds, the partnership or shareholder documents, bank statements, any invoices and receipts that have been kept, VAT and Corporate Tax registration emails or certificates, tenancy contracts and a list of staff with their monthly pay. If records are in a notebook or on a phone, bring those too. We can work from imperfect material, but we will tell you clearly what cannot be supported. Say whether any partner is abroad, since signatures and approvals then need to be planned in advance.
Many Ajman owners come to us assuming that their paperwork is not good enough. We begin by sorting what exists into three groups: records that can be relied on, records that can be rebuilt from bank and third-party evidence, and gaps that need a documented explanation. From there we prepare a closing balance sheet that a bank or authority can read without a long conversation. The aim is not perfect books but a credible and consistent account of how the company ends.
Smaller Ajman companies often ask whether Corporate Tax matters to them at all. Taxable income up to AED 375,000 is taxed at 0%, and a business with revenue of AED 3 million or less may be able to claim Small Business Relief for tax periods ending on or before 31 December 2029. Neither point removes the duty to register where it applies, to file and to keep records. A late Corporate Tax registration attracts a penalty of AED 10,000, and the FTA decides how it is applied. We check what was required and what can still be done.
After the first review we send a short list of actions in order of priority, with a clear mark against anything that needs the authority, the bank or a partner rather than us. You will know which tasks can be completed this month and which depend on someone else.
A licence that exists keeps its obligations even without trading, so accounts and any required tax returns may still be due. We review the registrations to establish what applies.
Yes, each licence is a separate legal and tax position, but shared bank accounts, staff and premises need to be separated first. We prepare the figures for the entity being closed.
This is a legal and authority question as much as an accounting one. We prepare the financial position and the evidence of attempts to contact the partner, and the licensing authority or a lawyer decides how the matter can proceed.
We scope the work after the first review, once we know how complete the records are. The review itself shows which parts are straightforward and which will take longer.
If you own a business in Ajman and want to close it in an orderly way, tell us about the licences, the partners and the state of the records, and we will outline a practical route.
