Company Liquidation Services in Dubai
In the UAE, company liquidation requires rigorous adherence to official procedures. With the help of our professional company liquidation services in Dubai, you will have a simple departure plan. We can give you the support you need to close operations.
Types of Liquidation in Dubai, UAE
It is time to get your affairs in order and liquidate your company in compliance with local legislation now that you have made the difficult decision to liquidate it. There are different types of company liquidation in Dubai, each with their own difficult characteristics.
Consequently, to deal with these complex procedures, you can hire our services in the UAE. Let professionals handle your liquidation and abide by the local guidelines while doing so.
Voluntary Liquidation
In a voluntary liquidation, the owners of the business will want to shut it down because they lack the money to pay the creditors. In this type of liquidation, creditors receive priority. Only the shareholders of a corporation have the authority to put it into voluntary liquidation. The appointed liquidator needs to be a certified insolvency practitioner. Members’ independent liquidation and creditors’ unilateral liquidation are the two different types of voluntary liquidation.
Compulsory Liquidation
Compulsory liquidation is a type of corporate liquidation mandated by a court order. The company’s assets are distributed among creditors and donors depending on priority claims. Compulsory liquidation is frequently a dissatisfied creditor’s final alternative for getting paid, either by compelling the board to act or obtaining access to the company’s assets. Authorities can also start it, even if a corporation has no significant assets in order to set a good example for others.
License Cancellation
Deregistration of a corporation with the license granting authority is another term for license termination. The first step in this process is to approach the authority and request that they begin the process of canceling the license they issued. The method of canceling a license does not appear in any law in this nation, but it is a practice followed by the authorities granting licenses, such as the DED, for all enterprises on Dubai’s mainland.
PROCESS
Company Liquidation Process
Reach Out
Let us know about your needs for Company Liquidation in UAE. Then, we will create an approach to tackle the issue.
Advise
Our team will give you the necessary advice regarding costs, risks, and time when dealing with a liquidation of company.
Analysis
Consequently, we will start analyzing your business’ commitments, liabilities, and assets. As a result, we will have a better understanding of what to do.
Planning
When we have the proper insight regarding your company, our team will plan the liquidation according to the issues you have.
Management
Subsequently, we will manage the liquidation process. in this way, we will make sure to disinvest the assets, debt recovery, creditor’s payments, and more.
Follow Up
After the process is over, our team will follow up with you to guarantee that everything goes according to plan.
Get Started
Fill the form and book a free consultation with us.
Documents Required for LLC Company Liquidation
Limited liability corporations in Dubai, free zone firms, and offshore companies all throughout the UAE have been receiving our Company Liquidation services in Dubai. With numerous successful closes under our control, we have the know-how to promise our clients a hassle-free dissolution. To process your LLC liquidation, you must provide the following documents:
Board Resolution to liquidate LLC and liquidator’s appointment
Letter from the liquidator accepting the appointment.
Licensing and Registration Application from de DED.
Company license and other legal documents.
Release letter from owner of property.
NOC letters from MOHRE and RTA.
Shareholder’s resolution for company liquidation and DED’s letter of dissolution.
Company
Liquidation Services
- Preparation for the proper business liquidation in the region.
- Establish the responsibilities of the owner of the business.
- Determine the overall cost of the company liquidation.
- Help owners with bankruptcy and insolvency legal processes.
- Provide a thorough review of all the compliances.
DISCOVER
Factors Why Company is Liquidated?
The process of Company Liquidation in Dubai can happen for a variety of reasons. Liquidation is frequently the only viable option when a firm has too much debt to recover via a turnaround plan or reorganization procedures like corporate compromises or self-administration. Here are some of the factors for company liquidation:
- Business do not have any other relevant assets.
- Company cannot pay their creditors due to lack of funds.
- Organization does not have cash or liquidity for funds.
- Company does obtain revenue, but its debts are higher.
Managing the
Liquidation of a Company
- Help with asset disinvestment.
- Manage creditor’s payments and debt recovery.
- Act as liaison with authorities.
- Prepare the documents for the liquidation.
- Prepare the accounts for company liquidation.