COMPANY LIQUIDATION

VALUE ADDED SERVICES

Company Liquidation

Company Liquidation: In Dubai’s ever-changing economic scene, while many enterprises fly to new heights, others may need to suspend operations for a variety of reasons.

Company liquidation, also known as business dissolution or winding up, is closing a company’s operations, settling its liabilities, and distributing its residual assets. The procedure of corporate liquidation in Dubai necessitates experience and precision.

Types Of Liquidation

VALUE ADDED SERVICES

Authorities Involved

Process of Liquidation

The process of company liquidation in Dubai requires expertise and precision.
Board Resolution

The company's board passes a resolution about the liquidation, nominating a liquidator

Notification

Notify the Department of Economy and Tourism (DET) and other relevant authorities about the decision to liquidate

Settling Liabilities

Clear all outstanding debts, utility bills, and other financial obligations.

Asset Distribution

Distribute any remaining assets among shareholders, as per the company's Memorandum of Association or as per statutory guidelines.

Cancellation of Visas and Labor Cards

Ensure all visas, immigration and labor cards issued under the company are canceled.

Closing Bank Accounts

Conclude all the company's bank accounts.

Obtain Clearance Certificates

From various entities like utilities, banks, FTA, Customs and free zones

Final Liquidation Report

The appointed liquidator prepares this, which is then submitted to the DET.

Deregistration

Upon completion of the above steps, DET will issue a liquidation certificate, formally deregistering the company.

Company dissolution in Dubai necessitates strict adherence to the city’s commercial and regulatory regulations. Collaborating with our experienced Dubai liquidation experts ensures a careful, compliant, and hassle-free winding-up process. Allow our expertise to lead your company through its final chapter with diligence and care.


Are you having trouble liquidating your firm in Dubai?

Required Documents:

Board resolution for liquidation.
Copy of the company's trade license.
No Objection Certificates from relevant authorities.
Liquidator's appointment letter and acceptance.
Clearance from utility and telecom providers.
We have audited financial statements.
Liquidation report.