Know More About Company Liquidation Services in UAE

What is Company Liquidation?

Company liquidation is the process where a company decides to close down or wind up its business operations as it can no longer continue the operations. When the operation of the company ends, usually they sell their assets so that they can settle their liabilities/debts/obligations. When a firm is being liquidated in the UAE the properties and assets are distributed to the creditors, shareholders of the company. Based on the commercial law of UAE, liquidation of the company should be done or must be liquidated and deregistered in the following cases (one case only is enough for liquidation of the firm):- 

  • When the majority of the shareholders of the company decide to liquidate the company. 
  • When there is a court decision to dissolve and wind up the business operations of the company. 
  • When the company is going through insolvency, which reasons accumulated loss that is bigger than half of the authorized capital. 
  • Voluntary liquidation can also occur if one of the major members of the business exit the company and the shareholders decide not to continue the business operations. 
The closing down of a business can be caused by different factors, but, surely, it is not an easy chore, that is why it is best to be done with experts in the field. 

Major Steps for Company Liquidation in UAE

There are various steps required to complete the liquidation process of the company. They are 
  • All the visas of employees should be canceled and cleared while liquidating a company in a free zone. 
  • Liquidator appointment and its attestation from Notary Public 
  • Fee payment at DED to issue liquidation certificate of the company. 
  • Company liquidation advertisement into 2 local newspapers and wait for 45 days to check any claim by a client against the company. 
  • Get clear from DEWA, Etisalat, and Ministry of Labour and Immigration. 
These are some of the major steps that will have to be taken for liquidation of the company in the UAE 

Documents Required for Liquidation Process in UAE

  • A copy of the license 
  • Power of Attorney (if any) 
  • Memorandum of Association copy with all the changes 
  • Shareholder’s Passport and Emirates ID 
  • Shareholder’s Resolution 
  • De-resignation Application Form 
According to the UAE Government rules, a notice period is given to the business entity where they can complete the required processes for successfully closing down the business.

Need Help To Liquidate Your Company in UAE?

The liquidation of a company in the UAE is a complex and time-consuming process. If you are planning to liquidate your company in Dubai, and want to ease up the procedures, then you can contact a reliable company like ARC Associates. At ARC Associates, we help our clients in following the procedures to closing down a company in Dubai, UAE. We have been providing highly specialized Liquidation Services in Dubai, to free zone companies, offshore companies, and limited liability companies across UAE. With the help of our skilled team, we have been handling liquidation services in UAE with great efficiency. So to know more about UAE company liquidation services, get in touch with our experts today – we’d be glad to assist.
Location: United Arab Emirates

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