Corporate liquidation


Table of Contents

Company liquidation services in the UAE

What is meant by the liquidation of the company is simply the termination of a commercial business and the nullification of the contracts of a specific company by the decision of its owner or owners if the company is based on partners.

Where the company must apply to stop the business by completing the required initial form through the approved channels or the Department of Economic Development. In turn, the Department of Economic Development or the accredited department will issue the liquidation credentials. This certificate should then be published as a liquidation notice in two newspapers for people to know.

Note that only official liquidators accredited within the UAE can be selected to liquidate a free zone company. This includes the cancellation and liquidation of all employee visas while a free zone company is in liquidation. Hence, the liquidation letter should only be submitted to the official registered auditor of the free zones in the UAE.

How do we provide corporate liquidation service?

The work steps for the liquidation of companies include a number of precise legal and administrative procedures that must take place in order for all matters related to the liquidation of the company to be completed. These procedures are divided into two phases:

The first stage

✴ The customer submits all the required preliminary papers (license, passport, agencies..etc) View all legal papers.

✴ Making an inventory record for the company. ✴ Request acceptance letter for permission.

✴ Make a certificate of dissolution. ✴ Announcing the liquidation of the company in at least two newspapers.

The second phase

✴ Preparing a work letter from the company stating that there are no workers affiliated with the establishment ✴ Issuing the liquidation decision ✴ Issuing the permission and issuing the erasure certificate.

The second stage begins 45 days after the completion of the steps of the first stage.

Why should you resort to a specialized company in the event of liquidation of your company?

 We have an integrated team of accountants and legal professionals, which guarantees the speed and accuracy of procedures, which is required in the event of liquidation of the company. In addition to:

✴ Examining legal matters and administrative steps accurately may be difficult for natural persons or company owners.

✴ The procedures for liquidating companies are long and exhausting, so resorting to a specialized company may be a sound decision in order to save time and effort.

What are the advantages of the company liquidation service that we provide!?

Once we are appointed as liquidators of the company, we will:

✴ Selling the company’s assets and property, collecting its money from the debts of a third party, and selling the company’s assets and property in one deal or in installments by practice or auction, as required by the company’s interest.

✴ Ensure the month of expiration of the company, carry out an inventory of assets, determine liabilities, obtain a detailed report from the management, and record all liquidation activities and their results in regular special records.

✴ Paying the company’s debts and obligations towards third parties, taking into account the priorities specified in the law

✴ Completing the works that started before the liquidation without being associated with new works, unless these new works are necessary to complete the works that started before the liquidation.

✴ Determining the rights of the partners, paying them to them, and submitting a detailed account statement that includes all the liquidation procedures and their results.

✴ Representing the company in all judicial disputes related to the liquidation work, as an agent for the company.

Why us?

✴ We are not just a company establishing companies only, but we are a true friend of your journey, as we start with you from the moment you think about establishing a company, through choosing the type of company, choosing the company’s headquarters, completing the procedures and opening the company, and ending with completing all the accounting matters necessary for your company, whether operations Company audit, financial advice or tax agency, or even simple procedures that you may need such as opening bank accounts and other matters.

Book your free consultation now!

Communicate around the clock, and you can call or WhatsApp us to book your free consultation with the experts of Heba Abu Ammo Foundation through +971505713242 / +971563619616
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