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When an organization’s shareholders decide to cease operations and dissolve its market existence, the liquidation procedure begins. During this time, the company hopes to sell all of its assets while also addressing any unresolved issues. Any remaining assets will then be distributed to the appropriate parties.
The procedure of company liquidation in the UAE can be complicated, requiring the filing of various official documents pertaining to the company’s financial position. As a result, it is advantageous for firms to obtain professional knowledge in liquidation concerns to guide them through the process.
We provide comprehensive Company Liquidation services at Corporate Group, including discussion with federal authorities and third parties. We ensure that all debts and liabilities are paid in full, and we obtain all essential legal approvals and requirements. Our team of experts has over 15 years of industry expertise and can professionally supervise and execute liquidation operations for UAE Free Zone companies, Limited Liability Companies (LLCs), local and foreign branch corporations, and offshore companies. We can manage the full Company Liquidation process from beginning to end.
Asset liquidation services procedures:
- Liquidators’ appointment process
- Liquidation Board of Resolution (drafting and notarisation)
- Acquisition of clearances from the Ministry of Labour and the Department of Immigration
- Acquisition of clearance from the Customs Department
- Procurement of bank closure letters
- Newspaper advertisements
- Obtaining Non-Liability Letter and Liquidation Certificate
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