Professional Company Liquidation Services: Concluding Your Business with Ease and Expertise
Company liquidation is the formal process of winding up a business’s affairs and officially dissolving its legal entity. Whether initiated by a sole owner or by a consensus among partners, the process requires meticulous procedures to ensure the company is closed properly and in full legal compliance.
How Does Company Liquidation Work in the UAE?
The process begins by submitting a formal application to cease business operations through approved channels, such as the Department of Economic Development (DED). Upon approval, a liquidation certificate is issued. This certificate must then be published as a liquidation notice in two local, widely-circulated newspapers to ensure public transparency and to notify any creditors or debtors. It is important to note that liquidating a free zone company requires the appointment of an officially licensed liquidator within the UAE. This process includes settling all obligations, such as the cancellation of employee visas, and submitting the final liquidation report to an approved auditor registered with the respective free zone authority.
How We Support Your Company's Liquidation Process
We follow a structured, two-phase methodology to ensure the liquidation process is completed efficiently and smoothly:
Phase One: Legal Preparation and Formalities
- Document Collection: We begin by collecting all necessary documents from you, including the trade license, passport copies, and any powers of attorney.
- Initial Procedures: We prepare the company's initial inventory report, draft the partners' resolution to dissolve the company, and apply for the necessary preliminary approvals.
- Official Announcement: As required by law, we publish the notice of liquidation in two official newspapers, initiating the mandatory legal waiting period.
Phase Two: Final Settlement and Deregistration
- Final Clearances: After a 45-day period following the announcement, we proceed with preparing the final letters confirming that the company has no outstanding labor-related liabilities.
- Obtaining Final Approvals: We work to secure the final liquidation resolution from the relevant authorities.
- Official Deregistration: We conclude the process by obtaining the final certificate of cancellation (deregistration), which officially confirms the company's dissolution.
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