Company liquidation being the closing down of the company requires some significant steps of procedures. The business consultants at Emirates First can help you go through the various steps from initiating the winding up process to the final preparation of statement of affairs and liquidation report.
There can be certain cases, where companies that used be operational once are no more in function. Or, it could also be like the company is being winded up after its term of business agreement. In both cases, the company would soon be a dissolved company and hence it requires a professional company liquidation expert to guide you through the process until deregistration.
Liquidation of a company could turn out to be tedious process, if it is not handled by a professional company liquidation expert. In this set of procedures, there will be a solid finalization of the company’s affairs like liquidation of stock/assets, assessment of past commitments, and fair distribution of it among the shareholders, creditors, etc.
As per the commercial law of the United Arab Emirates (UAE), company liquidation should be done or the company may be liquidated and deregistered in any one of the following cases:
When there is a situation that the majority of the shareholders agrees or decides to liquidate the company.
If the company is running in a loss which is more than half of the authorized capital.
If there is a court ruling to dissolve the company.
Some special cases, where an important member of the company exits and the shareholders decide to wind up the operations.
If you are looking for help in company liquidation, Call us at Emirates First and we can help you along with the procedures involved in company liquidation in Dubai.
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