Are you facing the challenging decision to close your company in Dubai? Worry not; our expert Company Liquidation Services in Dubai are here to guide you through the process with ease and efficiency.
Understanding Company Liquidation:
Company liquidation is the necessary step when a business is unable to cover its debts, and all operations come to a halt. During this process, the company’s assets are allocated among shareholders and creditors according to their priority claims. Liquidation is managed by a liquidator, appointed by the company’s management.
Our Expert Company Liquidation Services:
Al Marzaan Consultancy offers comprehensive support throughout the company liquidation process. We have vast experience acting as liquidators for numerous businesses in Dubai, ensuring a swift and appropriate liquidation process.
Company liquidation in the UAE can be complex and time-consuming, but our seasoned liquidators simplify the legal procedures, making the transition as smooth as possible.
Types of Company Liquidation:
1) Voluntary Company Liquidation:
- Opted for when a company lacks the resources to sustain its operations.
- Suitable for businesses facing constant financial losses.
2) Mandatory Company Liquidation
- Imposed by authorities when a company violates regulations or commits serious offenses, like fraud.
- Compulsory according to court orders.
Company Liquidation Process:
As your chosen liquidators, we handle various crucial tasks:
- Appointment of liquidators and submission of confirmation to relevant authorities.
- Publication of a liquidation advertisement in two local newspapers for 45 days.
- Realization of assets and identification of liabilities.
- Settlement of dues and expenses, including utilities and salaries.
- Supervision of accounting records maintenance.
- Closure of bank accounts.
- Tax return filing, including VAT.
- Submission of VAT De-registration to the Federal Tax Authority (FTA).
- Preparation and submission of the liquidator’s report to relevant authorities.
- Organization of the liquidation audit and the creation of a company liquidation audit report.
- Submission of all original documents to the appropriate authorities.
- Cancellation of the trade license.
Company Liquidation Audit:
Before the trade license can be cancelled, authorities like the Dubai Economic Department (DED), Jebel Ali Free Zone Authority (JAFZA), Dubai Airport Free Zone Authority (DAFZA), Dubai Multi Commodities Centre (DMCC), and Dubai Silicon Oasis (DSO) require a final liquidation audit report.
Al Marzaan, as one of the leading audit firms in Dubai, will meticulously prepare this report and submit it to the relevant authority where your company is registered. Once approved, your company will be officially closed, and the trade license cancelled.
For seamless company liquidation services or a detailed company liquidation audit report, don’t hesitate to contact us.
Let’s close this chapter smoothly and professionally with Al Marzaan Consultancy!
