Company Liquidation in UAE
Liquidating a company in UAE can be a complex and time-consuming process, but our team of experienced liquidators in the UAE can simplify the legal procedures and assist you throughout the entire process. If your company is struggling to generate enough revenue to cover its expenses or has accumulated significant debt.
At MAS, we prepare a comprehensive Liquidator’s report, also known as a No Liability Letter, which is prepared by a professional auditor. We then issue an Appointment of Liquidator’s Letter to inform the licensing authority followed by a Final Liquidator’s report that verifies all possible liabilities of the company.
♦ In UAE there are two types of Liquidations
Voluntary Liquidation: When Business owners are not interested to run the business or unable to run the business. They jointly take a decision to move out of business.
Mandatory Liquidation: In this case, the Licensing authority or UAE court orders to liquidate the company when the company does something wrong which is not permitted in their line of business.
How MAS is different from others?
As an experienced Auditor & Liquidator we know the finance linkage of any company from any domain. This understanding helps us to outline the Company closer process easy. MAS has liquidated many companies those were Limited Liabilities Company, Free zone Company & Off Shore Companies. We help the Business Owners to move out of business legally and smoothly.
As a Liquidator our projected role to:
- Drafting the Board Resolution.
- Publishing Advertisement in English and Arabic News Paper.
- Settling with Employees.
- Settling with the Debtors/suppliers.
- Visa Cancellation.
- Bank Account Closing.
- Obtaining NOC form Dewa, NOC from Local telecom Company.
- Registered Tenancy Agreement Cancellation.
- De-Register with FTA.
- Preparation of the Liquidator’s Report.
- Submission of the final Report to the Authority to get the De-Registration Certificate.
