Winding down of the operations of a Company in DMCC, UAE

Headquartered in India, ABC Group (Client) is present in diversified businesses with a strong foothold in pharmaceuticals, biotechnology, and packaging industries. In 2022, as part of its global expansion strategy, it established a Dubai subsidiary (Dubai Company) to drive trading operations within the Dubai Multi Commodities Center (DMCC) Free Zone and beyond.

Nexdigm implemented a structured and proactive approach to assist the client during entire closure process:

• The activity of the winding down of the operations had to be done in coordination with the appointed liquidator.
• A detailed checklist for different areas was circulated with the management and liquidator to gather the required information and documents.
• Nexdigm worked very closely with various stakeholders in closing all open issues and obtaining NOCs from respective departments.

Nexdigm ensured that the operational wind-down and other related activities were completed smoothly, in a timely manner.