Why Company Liquidation Services Necessary In UAE

Not all the business can fully succeed in the vibrant and competitive niche market in UAE. When a business has failed to predict the market trends, it enters into liquidation phase and then alas it could announce itself bankrupt. That is why businesses want the help of liquidation services to play their part. Company liquidation in Dubai is a very tiresome and lengthy process. A company closing process in UAE is time-consuming and of course a complicated process. Nevertheless, with the help of experienced liquidators in UAE, one can easily complete all the legal procedures and liquidation process. When the company have not enough fund or profit to continue their daily tasks and operations undergo liquidation stage. Sometimes liquidation of the company occurs when a firm commits a serious offence or a crime like fraud activities and violation of rules and regulations. 

What Makes The Company Liquidation Necessary?
  • When company debts surpass the value of total assets.
  • When a company has unsuccessful to register itself as a private or public firm.
  • When a company is not able to pay off debts.
  • When a company failed to trade for one year from incorporation.
  • When a company undergoes a higher rate of attrition.

Role of Liquidation Services

The liquidation services are aimed to guarantee a fair distribution of the broke company’s assets for the benefits of creditor’s. Following are some of their procedures:
  • Make sure that the debt of the business is recovered.
  • Intimate the debtors and creditors about the procedures.
  •  Get permissions to the dormant company to be de-registered.
  • Helps the independent investigation into the affairs of the firm.
  • Study likely advanced payments to all stakeholders.

Responsibilities of a Liquidator

A liquidator is the main decision-maker in the liquidation process. The responsibilities of a liquidator are as below:
  • Starting the closing Process- The board of shareholders pass a resolution for the liquidation and the appointment of the liquidator, the liquidator, upon the receipt of such resolution, issues an acceptance letter.
  • Publishing the Liquidation Notice- After the liquidation process begins, the liquidator circulates the liquidation notice, both in English and Arabic in the two local newspapers.
  • Outline of Collection & Distribution of Business Assets- If required the liquidator may outline the collection and distribution of firm assets and the clearance of liabilities.
  • Formulating the Statement of Affairs- As the final step in the liquidation process, the liquidator organizes the statement of affairs and the liquidator's report.

HIRE SPECIALIZED LIQUIDATION SERVICES IN UAE

Company liquidation in the UAE requires a skilled approach with strict adherence to official procedures. Only a comprehensive understanding of the present legislation can aid you to meet the liquidation requirements as instructed by the law of the property. ARC Auditing & Associates, one of the leading liquidators in Dubai with years of experience in this field, guiding businesses step-by-step through the liquidation process. We have been providing highly specialized Liquidation Services in Dubai, to free zone companies, limited liability companies and offshore companies across UAE.
With a successful track record of closures, we have acquired the trust of clients for our hassle-free liquidation services. Even though the liquidation process is lengthy, at ARC Auditing & Associates, we can de-register your company smoothly in a short period. We ensure right procedures reliant to the needs of the clients for the best Liquidation service for the companies in UAE. Keep in touch with our crew for an initial talk on how to go on within the most suitable liquidation proceedings for your company.

Location: United Arab Emirates

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