Company Liquidation Services

Successful Liquidation Services For Dubai Businesses!

Liquidation is a legal insolvency procedure where the company is brought to an end (also known as “winding up”). It is the closing of the company where all the assets are liquidated and sold to resolve debts. The remaining assets after paying the debts will be transferred to the company’s shareholders.

What is Company Liquidation?

Liquidation is the process of selling off a company's assets and winding them down. This can be done through a formal sale to a third party, or through bankruptcy proceedings. The goal of liquidation is to maximize the value of the assets and reduce the liabilities of the company.

There are two main types of liquidation: Commercial and Insolvency.

• Commercial Liquidation is typically used when a company needs to raise money quickly.
• In Insolvency Liquidation, the goal is to restructure the company so that it can return to profitability.

There are several factors that go into deciding whether or not to go through with liquidation: the health of the business, its debt load, and its asset portfolio.

Benefits of Company Liquidation in UAE

• Outstanding debts are written off
• Legal action is stopped
• Workers are entitled to demand their pay
• Revoking leases
• Low expenses involved

What is Company Liquidation Service in Dubai, UAE?

Dubai is one of the most popular trading and business destinations in the world, and as such, there are many companies that operate out of Dubai. Many businesses in Dubai are small and operated by a sole proprietor, meaning that when the owner of the company dies or decides to retire, they may have no choice but to close their business. In some cases, when a business closes down it can be difficult to get your money back.

In order to help businesses in Dubai avoid closure and ensure that their customers are able to get their money back, there is a company liquidation service available in Dubai. This service provides professional assistance in dealing with all aspects of closing down a business including finding new owners, transferring ownership documents, and organizing bankruptcy proceedings. This allows customers to get their money back without having to go through the hassle and stress of closing down their own business.

What is the Role of a Liquidator?

A liquidator in Dubai, UAE is a professional who is responsible for the orderly and efficient distribution of assets after a company or individual goes bankrupt. They are also responsible for collecting money owed to creditors and distributing it to those who are owed money. Liquidators work with attorneys, accountants, and other professionals to make sure that all debts are paid in a timely manner.

Process of Company Liquidation in UAE

Here is the process of liquidation of a company in the UAE. The steps of company liquidation in Dubai or the rest of the UAE are as follows:

• The shareholders must prepare and approve a dissolution resolution. The resolution should be certified by a Notary Public in the case of Limited Liability Companies (LLCs) established in the UAE. If the shareholders are not in the UAE, the resolution must be notarized and certified at the proper UAE embassy, then attested at the UAE Ministry of Foreign Affairs and Ministry of Justice.
• Hiring a liquidator in Dubai, UAE and receiving an official acceptance letter from the liquidator
• The firm can proceed to issue a notice of liquidation in both English and Arabic in a public newspaper after getting a provisional liquidation certificate.
• The shareholders' resolution, along with all required documents and payments, is submitted to the appropriate licensing authority.
• A 45-day notice period will be provided where
• Work permits and visas of all employees and partners must be cancelled
• Clearance letter from the immigration department
• Clearance letter from the department of labor
• Clearance letters from utility companies such as water, power, and telephone
• Letter of approval from the landlord
• Letter of approval from RTA
• Clearance letter from Federal Customs Authority
• Letter of closure of the bank account
• VAT deregistration letter from the FTA and VAT clearing letter
• Liquidators in Dubai, UAE will create the liquidation report once the notice period is completed.
• After that, the completed report should be given to the proper Authority, along with all associated documents and the necessary cancellation costs.
• The Authority will review the application and provide a "License Cancellation Certificate" if it is approved.

Reyson Badger is the Best Liquidators in Dubai, UAE

Reyson Badger provides the best provider of Liquidation Services in Dubai. Our experienced and qualified professionals will help you with all of the details necessary to complete your liquidation quickly and efficiently. We understand that completing a liquidation can be a challenging process, so we are committed to providing exemplary customer service. We also offer a variety of flexible payment options, so you can get the most out of our services. Contact us today to learn more about our company Liquidation Services in Dubai.

We at Reyson Badger have experience in company liquidation services in Dubai, UAE. We have years of experience in auditing, accounting, and other financial services.