Company Liquidation in Dubai

Closing a company can be a time consuming and a complicated procedure but our experienced and influentialliquidatorscan simplify all the legal procedures and assist you in company liquidation process.

Types of liquidation

There are two major types of company liquidation:

• Voluntary liquidation
• Mandatory liquidation

Voluntary liquidation

There may be multiple reasons why a company is liquidated of its own accord. There could be number of reasons for voluntary liquidation such as financial losses, death of the owner, the goal of the company is achieved or maybe the goal of the company do not exist anymore.

The voluntary liquidationis a business decision. This phase is very often a challenge for management who is typically operating vehicles as a going concern. During this phase specific legal, operational and financial aspects have to be considered, as well as their timing.

Mandatory liquidation

If a company violates the rules and regulations of the authorities or commits a crime such as fraud or any other serious offense, or maybe because it is insolvent, ie. it no longer has any money to continue and cannot meet its existing debt obligations to its creditors.

The government will immediately close the company and in this case, mandatory company liquidation is required as per the court order.

Company liquidation process

• Board of directors meeting
• Submission of application for liquidation
• Publication of the dissolution decision
• Liquidator acceptance
• Notice period
• Bank account closure
• Final tax submission & tax deregistration
• Visa cancellation & settlement of dues
• Liquidation audit report
• Liquidation certificate

We have vast experience with company liquidation in Dubai. Our expertise ranges from Sole Establishment / Sole Proprietorship to Legally Limited Company (LLC) to Legally Limited Partnership (LLP) to Civil Company along with private and public company liquidation.