Company Liquidation
Winding down a business can be a challenging process, but our Company Liquidation services are designed to make it smooth and compliant with UAE laws. We handle all aspects, from settling debts to de-registering your business, ensuring a hassle-free closure of your operations.
What is Company Liquidation?
Company liquidation involves closing a business, settling its debts and distributing any remaining assets. It can be voluntary or compulsory, depending on whether the decision comes from the shareholders or a court order.
Our Services Include
- Debt Settlement: We manage the settlement of all outstanding liabilities.
- Asset Distribution: Handle the liquidation and distribution of assets.
- De-registration: Complete legal de-registration with relevant UAE authorities.
- Final Audit: Conduct a final audit to ensure all financial obligations are met.
What is Copyright?
Copyright provides legal protection for original works, preventing unauthorised reproduction or use. It covers a wide range of creations, including accounting and tax regulations.
- Accuracy: We ensure all financial records are precise, compliant and up-to-date, reducing the risk of errors and financial misstatements.
- Comprehensive Service: From daily bookkeeping to annual audits, we offer end-to-end financial management services.
- Client-Centric Approach: We tailor our services to meet client needs, including written materials, software, visual and performative works, architectural designs and more.
Types of Liquidation
- Compulsory Liquidation: Court-ordered dissolution due to insolvency or legal violations.
- Voluntary Liquidation: Initiated by shareholders when a company can no longer meet its financial obligations.
Process of Company Liquidation in Dubai, UAE
- Board of Directors Meeting: Discuss and appoint a liquidator.
- Submission of Application for Liquidation: Provide notarised documents to start the process.
- Publication of Dissolution Decision: Notify creditors via a local newspaper announcement.
- Visa Cancellation & Settlement of Dues: Cancel visas and settle all dues, including utilities.
- Liquidator Report: Submit a final audit report after settling all claims.
- Liquidation Certificate: Obtain this certificate to finalise the closure.
Required Documents
- For Free Zone Companies: Board resolution, clearance certificates and original licences.
- For LLCs: Notarised board resolution, liquidator’s letter and NOC from various authorities.
- For Branches: Deregistration application, clearance certificates and bank closure documents.
Why Choose SmartBizSetup?
We understand the legal framework and will guide you through each step, ensuring compliance and avoiding complications. From business name cancellation to settling liabilities, we provide comprehensive support.
Need to wind down your business? Contact us to ensure a compliant and efficient company liquidation process.