Company Liquidation

LLC Company Formation

Company Liquidation

Any company may meet any fate. Of course, there are many factors associated with it. Just the way, the setting up of a company requires Liquidation of a company refers to winding up the assets that are collected and sold to pay the incurred debts. The winding up process of a company begins with checking out all the debts and expenses, paying them away and distributing rest of them among the shareholders of that company.
We provide company liquidation services to guide in ending up the company’s processes for ceasing its existence, following a complete process.

Company Liquidation Services in Dubai, UAE

The process of company liquidation in Dubai requires following a complete closure procedure guided by all the legal regulations. There may be many reasons for the company owner to look for professional voluntary company liquidation services in UAE. The reasons may range from challenges like regulatory or operational issues or the maturing funds to the need of cost reduction owing to some changes in legislation.

The liquidation of company requires a complete range of services involving pre-liquidation analysis, determining the customized and efficient way to liquidate assets, legal documentation, selling of assets, distribution of remaining assets among the shareholders, and also assisting in post liquidation process. Effective ad centralized communication and coordination between the parties is the key to hassle free liquidation of the company. The process may involve various parties, and therefore it is important to liaise with all of them and get things done smoothly.

The liquidation expert team at Milestone comprises of qualified professionals who follow a pragmatic approach to provide exemplary support throughout the company liquidation process, right from analyzing the pre-closure condition to preparing a closure strategy and executing it.

Our Company Liquidation Process

The objective of a company liquidation process is to convert its assets into cash, and making repayments of debts as much as possible, with those funds. It finally leads to ceasing of its operations and shutting it down. Once the company directors decide and confirm about company liquidation, our role begins. It starts with first identifying the company’s assets and selling them. During the course, we keep sending closure reports to the creditors.

We even perform investigations where we find any inappropriate records or transactions, finally ensuring that the process is smooth and closure is free from any issues. Are you looking for a professional advice or guidance on your company’s liquidation? Talk to us!

Closing Down a Company in Dubai? What All You Need to be Sure About?

Before you finally get set for company liquidation process, make sure you have performed some important tasks such as getting the confirmation of approval on company liquidation from board of directors of the company, submission of a notice to the authority at DDA free zone, providing the reason behind seeking the company’s closure. This should be done with one-month prior notification.

A resolution by the shareholders should be attested for deregistration of the company at free zone authority itself. The company should then present all the documents – company formation certificate, license, certificates pertaining to shares and lease agreement in original.

You will be required to obtain clearances from Dubai Customs Department, DDA Finance Department, DDA government Services Department, DDA Government Services Department, DDA IT Section and Facilities Management. The Dubai Auditor will prepare the Liquidation report.

Challenges We Deal with, While Performing Liquidation Process

Setting up a company comes with lot of challenges, and so does its closure. There are so many nitty-gritties involved in the process, that you would need professional assistance for a smooth process flow. There are lot many challenges involved in the closure of a company too. But, you don’t need to worry!

We will provide guidance and all the support to you for meeting all the legal requirements and formalities for company liquidation in the UAE. We will also provide you the support to deregister the company. The final audit report will be prepared without any issues.

There may be cost-based reasons for closing a company, and when you have to do that at again a heavy cost, it may certainly bother you. We provide cost-effective company liquidation services to help you in the closure of the company without any further stress.

Frequently Asked Question (FAQs)

How expert are you company liquidation?

We assist in the entire company liquidation process in the UAE without any obstacles. With a relevant experience in company liquidation in the UAE, we follow all the procedural steps in accordance with the business jurisdiction.

How do you perform company liquidation process?

We assist in the entire company liquidation process in the UAE without any obstacles. With a relevant experience in company liquidation in the UAE, we follow all the procedural steps in accordance with the business jurisdiction. We first prepare a Board Resolution for Liquidation which is duly attested by the board of directors. This is followed by obtaining a clearance certificate from the ministries of labour & immigration, and closure of all the bank accounts. The clearance on financial liabilities is obtained, along with the license cancellation certificate.

What happens when a company does not follow regulations applied on the closure process?

Any company that does not follow these regulations to execute the closure process, becomes liable for getting blacklisted for other opportunities in future.

Can the company owner follow the closure process on their own?

The intricacies of company closure process may subject the company owner to a lot of trials and tribulations. As company liquidation experts, we guide our clients through the entire liquidation process with enough ease.

What are the prior requirements to be met before the company liquidation process begins?

Before the company liquidation process, the company owner should make sure that they have performed some important tasks such as getting the confirmation of approval on company liquidation from board of directors of the company, submission of a notice to the authority at DDA free zone, providing the reason behind seeking the company’s closure. This should be done with one-month prior notification.

What happens in the process of company liquidation in UAE?

The company liquidation process involves ceasing of its operations and shutting it down. Once the company directors decide and confirm about company liquidation, our role begins. It starts with first identifying the company’s assets and selling them.

What can be the reasons behind liquidation of a company in Dubai?

The reasons behind the company liquidation process may range from challenges like regulatory or operational issues or the maturing funds to the need of cost reduction owing to some changes in legislation.

How do you help in dealing with challenges involved in company closure in the UAE?

The process of company liquidation in the UAE, comes with lot of challenges. There are numerous nitty-gritties involved in the process, that we deal with our professional expertise and years of experience. We first analyze the pre-closure situation of the company and then following a pragmatic approach, deal with all the challenges involved in the process.

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