Company Liquidation Services Dubai, UAE
As per UAE Law, only Register Audit Firm can process only Company Liquidation Services in Dubai, Ajman, Sharjah, Abu Dhabi and UAE free zones.
Liquidation is a painful decision for any company when the times come to windup the business. According to Emirates Land Law when any company is going to wind up their business. Then need to complete the Liquidation process before Cancellation the License.
we guide and fulfill the all process as per UAE Law and Clients Guinness.
- Initiating the De-registration process.
- Several Government Departments, To get off the Hook.
You need to complete all applications forms, meticulous deregistering of certificates from
government various agencies.
We are Specialize in Liquidation Dubai, Abu Dhabi local Limited Companies, Free zone companies, and offshore companies across UAE.
Closing a Company in the United Arab Emirates legally process called company liquidation because company has no money to pay off its remaining debt and wants to close business and distributed all assets belong to the company and distributed to creditors and shareholders depends on their percentage of claims.
Company liquidation in Dubai have a little lengthy process, We are a Silveroak Auditing firm based on Dubai, hire us like a liquidator and we complete all company liquidation process on behalf of the client.
Types of Company Liquidation in Dubai
As per UAE laws, rules and regulation there are 2 types of Liquidation, we mention below
The first category we can describe like, all shareholders agree and decide to company voluntary liquidator. the main purpose of wind up the company is no money has to pay for creditors because of the loss of Business, no profit.
Compulsory liquidation means wind up the company on court order and Distribute company assets to the creditors and pay Debts, or Pay contributor based on the priority of claims.
Being a Liquidator our Find our Role of Company Liquidation in Dubai
1. Initiating the Winding Up Process
Once the Board of Directors/Shareholders of Company pass a resolution for the liquidation of a business or winding up the business and appoint an Audit Firm team of liquidator. After signing the appointment letter the liquidator work starts with an acceptance letter.
2. Publishing the Liquidation Notice in Newspaper
once liquidation process starts then appointed liquidator to publish the company liquidation in Dubai notice, both in Arabic and English language newspapers in the United Arab Emirates.
3. Must overview of Collection and Distribution of Company Assets by Liquidator firm
Liquidator Firm needs to overview the collections info and distribution of company fixed assets and tangible assets details and the settlement all of the liabilities.
4. Preparing the Statement of Affairs
At the End of the company liquidation process, and prepares the documents and statement of affairs with full details of all affairs.
Company Liquidation mainland Process in Dubai, UAE
Company Liquidation Process in Free Zones Dubai, UAE
- Prepare and Submit Resolution
- Publish Advertisement
- Pay Off Employees
- Close Bank Account
- Obtain NOC
- De Register with FTA
- Issue Liquidators Report
- Submit with Document Coples
- Submit Originals
- Cancelation of License
Company Liquidation Process in Free Zones
Company Liquidation process for free zone companies is similar to that of mainland companies in Dubai, except with regard to the notice period, the time frame required to liquidate the company, etc.
Documents Required for Company Liquidation in Dubai, UAE
The Dubai government sets out different types of documents to be submitted for the liquidation process. These documents are required for company liquidation both in free zones as well as the mainland.
The essential documents are listed below:
- A copy of the license
- copy of the Memorandum of Association (MOA), with any changes
- power of attorney (if any)
- Passport copies of all the shareholders
- Copy of the Emirates ID
- Shareholders’ resolution application form of de-registration
We provide the following company/ Business liquidation services in Dubai, Ajman, and the rest of the UAE:
- Assistance in preparing the Company Board of Directors/ Shareholders’ resolution
- Preparing the Statement of Affairs and the Liquidator’s Report, including No Liability Letter, etc.
- Liaising with the licensing authorities for the submission of documents and liquidation of the company
- Auditing financial statements for the purpose of company liquidation