Company Liquidation in Dubai- the right way to proceed!
Liquidation is the termination of a company and is a formal process for making it insolvent. The other terms for company liquidation are winding up or closing a company.
In the process of liquidation, the assets of the company are clear and the gains from this asset are using for paying off the debts and other expenses. Distribute the profits among the shareholders after paying off the debts.
The completion of the liquidation process leads to its suspension from engaging in any kind of trading or business activity. The license of the company is rescinded and its trade name is removed from the Trade Registry.
Company liquidation procedure in UAE
For the company liquidation, the process is executed after considering whether it is a compulsory liquidation or voluntary liquation. If you want the liquidation to take place transparently, then hiring consultants is the best step to take.
The company liquidation process in Dubai is long and complex. It involves the settling of utility bills, receiving certification from the government authorities, preparing the final audit report, and more. To assure that to liquidate the company in a vivid and effective manner it is crucial to get expert service.
How to do company liquidation in Dubai?
For canceling a Limited Liability Company license:
- First, appoint a liquidator
- Get a notarized certificate with the authorized signature of the liquidator, auditor registration certificate, and a copy of the trade license
- Getting a copy of the resolution of the board of directors after authenticate
- Cancellation of the visas of all the employees and shareholders of your company
- Approvals from different authorities such as automation, electricity, water, and the Ministry of Labor
- Giving out the advertisement of your company in two or more Arabic newspapers
- Submission of the final audit report and the newspaper advertisement to the Department of Economic Development
- Paying other due expenses and outstanding fees
For canceling Sole Establishment license:
- Canceling the visas and work permits of all employees
- Receiving the form for Establishment Card Cancellation
- The cancellation form with sealed with the authorized signature of the company and then submitting it to the Ministry of Labor
- Securing the signature of the owner on the cancellation form and submitting it for approval
- Proceed to the Department of Protective Systems for Police approval
- Get the cancellation certificate
- Submit the certificate, Establishment Card, and the request letter to the Immigration Head Office
Reach us for smooth liquidation services
With that being said, Business Link UAE is the best for getting company liquidation services in Dubai. For making certain that you do not bear any losses or to avoid unnecessary expenses, get our services.
Our experts can guide and help at every step to ensure that you get the best company liquidation service without spending much. We keep you informed at every step and resolve any issue in the way of transparent liquidation of your company.
