A Sharjah company that is closing usually has physical things to account for: stock in a warehouse, machinery in an industrial unit, vehicles on the fleet register and customers who still owe money. Young & Right supports the accounting, tax-deregistration and document work behind a closure, whether the licence came from the Sharjah Economic Development Department or from a free zone such as SAIF Zone, Hamriyah Free Zone or SPC Free Zone. We are not a licensed liquidation firm by default, and we take on the liquidator role only where we are separately engaged and licensed to do so.
Request a ConsultationA stocktake-based opening position for closure, so inventory is valued and recorded before it is sold, transferred or written off
Fixed asset registers reconciled to disposals, transfers to shareholders or write-offs, with the supporting invoices
Final accounts and bank, customer and supplier reconciliations to the cessation date
Preparation of VAT and Corporate Tax deregistration, including the last returns and the explanations behind unusual entries
Review of customs, trade and import records where goods were brought in under the company name
Support for the people appointed to complete the legal liquidation, including the schedules they will need
Bring the trade licence, the licence renewal history, the shareholder decision on closure, the latest accounts, all bank statements and the VAT and Corporate Tax registration details. For a trading or manufacturing business, add the stock listing, the fixed asset list, supplier statements, customer ageing, warehouse and factory lease agreements, and any import documents that are still open. Tell us whether the premises are in a free zone, because that changes who has to sign off on the handover of the unit and the cancellation of the licence.
Sharjah has a large base of traders, small manufacturers, contractors, publishers and logistics operators. Their closures tend to stall on the same few points.
A company licensed by SEDD deals with that department for cancellation and with the Federal Tax Authority for deregistration. A company in SAIF Zone, Hamriyah Free Zone or SPC Free Zone deals with its own free-zone authority for the licence and the premises, and with the FTA for tax. The free zones do not all ask for the same things, and requirements can change, so we confirm the current position with the relevant authority at the start of the engagement rather than assume it. Free-zone companies should also remember that any Corporate Tax benefit linked to Qualifying Free Zone Person status depends on conditions being met, which is worth documenting in the final period.
Tax deregistration is a separate step from licence cancellation, and cancelling one does not close the other. The Federal Tax Authority expects returns to be filed and amounts to be settled before it will consider an application. Under the Corporate Tax regime, a company with revenue up to AED 3 million may be able to use Small Business Relief for periods ending on or before 31 December 2029, and we check whether that applies to the closing period. Final decisions on registration status and any penalties rest with the FTA.
You receive a written list showing which closure records are complete, which need correction and which depend on third parties such as landlords, customers or the licensing authority. We highlight the three or four items that are most likely to delay the process so you can act on them first.
Stock should be counted, valued and then sold, transferred to a named party or written off, with documents for each choice. The treatment feeds into the final accounts and may carry tax consequences, so we review it before the books are finalised.
Yes. Tax law requires accounting and tax records to be kept for a set period after the business ends, and the period depends on the tax concerned. We help you organise an archive so the files can be produced if the FTA asks questions later.
No. A free-zone licence is cancelled through the free-zone authority that issued it, although tax deregistration is still handled by the FTA.
That depends on the authority and the company documents. Many closures use a power of attorney, and we advise on the accounting evidence the signatory will be asked to approve.
Whether your Sharjah business trades from a shop, a warehouse or a free-zone unit, we can start by listing what has to be counted, collected, paid and filed before the licence is cancelled.
