Liquidation and renewal procedures first let’s start off with steps to setup your freeze on company there are five steps that you would need to follow in order to get your freeze on company first is to select your business activity because in many free zones they cater to a selected industry and business activity. So deciding your business activity is very important in order to select the right free zone for your company after selecting the right business activity comes getting your trade name for your company and after getting your trade name the third part is the documentation process where you will have to submit your passport copy Huizar page and photograph along with applications and other documentation part required and the fourth part is the process where we will get the licensing done and the fifth part is where if you need a Whizzer the visa application process will be followed as this seems really complicated not to worry at all because we company formation specialists come into picture where we will make your complete process simple and smooth now coming to the cost the cost varies or starts from 8080 and ends at 60,000 80 and this is completely based on the activity type with a cost and license validity coming to the time frame few free zones complete the incorporation or setup of the company within 5 to 7 working days whereas few free zones take 7 to 10 working days and whereas other free zones take 10 to 15 working days so this cost and time depends from free zones to free zones now let’s talk about renewables when it comes to renewables it depends on the license that you have if it is a one year visa two years visa so the rainy will be will be accordingly few free zones give you one month buffer time in order to get your license renewed and after which there will be monthly late payment fee which will be added to your license cost and which you will be paying at the time of renewal so it’s always advise not to renew your license late because it also affects your company’s credibility so anytime you want renewal flag song is always there for you now let’s look into the liquidation part of a company liquidation also is known as the registration of a license and this process includes a lot of requirements and a lot of documentation so for example like the license should not hold any visas under them the company should not have any liability under the name and there are a lot of requirements and in order to go ahead and know more about liquidation we will be making a separate video for the same to give a clear picture about the registration of the license.
