Closing a business process | ExpatWoman.com
 

Closing a business process

845
Posts
EW GURU
Latest post on 05 January 2017 - 08:35

I have decided to not renew my business license next month.
I have a professional license with a local as sponsor.
I have 2 employees, 1 being my adult son.
What is the process for closure?

3
Posts
EW NEWBIE
Latest post on 05 January 2017 - 18:28
You have to cancel visas ASAP as you will have fines for insurance (in case you don't have it for employees) and for not transferring the salary through the WPS. Than check with DED which dox will they require or hire someone who will do it all. Sin general you will have to prepare resolution, close your bank account, PO box, appoint liquidator and prepare audit & liquidator's report, cancel your labor and establishment cards. If you don't have POA from local you'lol need lots of his/ her signatures so better do all typimgs, requests and forms together in order to sign them in one go
 
 

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