Liquidation Services in Dubai
We’re a leading firm of chartered accountants & VAT/Tax advisers supporting entrepreneurs, high net worth individuals, family offices and growing businesses in UAE.
The liquidation or winding up of a company is commonly known as closing of a company or cancellation of a company in the UAE.
No matter of what type of business you own in the UAE, you must cancel your business licence and all related permits associated with it when you have made your decision to close it down. Liquidation or winding up of a company is an activity whereby the operation of a company and its existence will come to an end.In the UAE Company liquidation calls for a qualified approach with strict adherence to formal procedures.We are also helping to liquidate the companies in all the free zones like DMCC,DWC,SAIF zone etc in the UAE.
Our specialized services include determining a solution and advise you on objectives such as costs, time and risks of participating as one of the independent third-party liquidators for finding a quick-fix solution.With our specialized services we provide you with an easy exit strategy.
Our Business Liquidation Services in Dubai Includes
Preparation of Resolution
Assistance in preparing the Board of Directors/Shareholders' resolution
Preparation of Resolution
Our experts will Assist you in preparing the Board of Directors/Shareholders' resolution.
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Preparation of Audit Report
Auditing financial statements for the purpose of liquidation
Preparation of Audit Report
Our experts will do the detail Auditing of financial statements for the purpose of liquidation
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Statement of Affairs
Preparing the Statement of Affairs
Statement of Affairs
A Statement of Affairs (SOA) is a document that provides an overview of the company’s assets and liabilities.
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Liquidator's Report
The Liquidator shall issue the liquidation report for the company.
Liquidation Report
Our experts will help your company in preparing the process of liquidation by preparing the liquidation report.
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No Liability Letter
Assists in receiving the no liability letter from the concerned authorities and people.
No Liability Letter
A legal document issued by the bank/creditors stating that the customer has paid off and settled all outstanding dues to the lender.
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Documents Submission
We will assist you in the submission of all the documents for getting the liquidation done.
Documents Submission
After verification of all the legal documents we will help you to submit the legal documents along with the liquidators report.
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Procedure of Liquidation Service in Dubai Includes
The nominated auditor must be a regulated auditor.
The board of the company has to issue a resolution that the company is under liquidation, appoint a liquidator, and mention the name and address of the appointed liquidator.
The appointed liquidator must announce a brief of the board resolution and the liquidation in two local newspapers.
The creditors (if any) must submit their claim or/and their objections (if any) within the time limit mentioned in the announcement. Other interested parties have the right to object the liquidation during the time limit.
Make sure that the clearance letter is received from all the creditors,banks,government etc.
After making sure that the task is fully completed, the liquidation report must be issued by the appointed liquidator
an application for the company deregistration along with a copy of the liquidation report must be submitted to the company’s registrar. Once the application is approved, the company’s registrar office will issue a certificate of deregistration.
Steps for Liquidation of a Company in Dubai Includes
In this stage, we sit with you to review your company’s liabilities, commitments, and assets.
This helps us get insights into issues such as:
- Debt recovery
- Claims management
- Asset disinvestment
- Intimate creditors and debtors
- Perform compliance due diligence
- Assess liquidation costs
We initiate the liquidation process.This stage consists of the following:
- Asset disinvestment
- Debt recovery and creditors payments
- Liaison with Notary and Government authorities
- Preparing documents
- Preparation of accounts for the liquidation
The steps in the final closure stage include:
- Termination of contracts
- Final settlement of payments
- Information and publication
- Deregistration
