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Company Liquidation Services in Abu Dhabi
Company Liquidation
Company Liquidation Services in Abu Dhabi : Saif Chartered Accountants helps companies in the liquidation process and offers all the associated advantages. We provide services for creditors voluntary liquidation (CVL), compulsory liquidation, and members’ voluntary liquidation (MVL). The biggest advantage of our liquidation service is that your debts will be written off, barring some special circumstances.
Our process minimizes your debt repayments that you’ve accrued till date and prevents any further ongoing payments. When you liquidate your company through Saif Chartered Accountants, any lease, purchase, or hire agreements are terminated. This enables business owners to bring an end to the prospects of legal actions.
Please note that the condition may vary if you have personal liability for company debt. Otherwise, creditors will not be able to initiate any legal proceedings. Our liquidation process offers the opportunity to demonstrate that your company was voluntarily closed down, and it was not forced to shut down due to creditors’ petitions in court.
Efficient and Reliable Company Liquidation Service in Abu Dhabi.
Trust our experts to handle the process smoothly and professionally
Understanding Company Liquidation in the UAE: A Comprehensive Guide
The liquidation or winding up of a company in the UAE signifies the termination of its operations and existence. This process is commonly referred to as company closure or cancellation in the UAE.
At our firm, we offer comprehensive Company Liquidation Services in the UAE, catering to various types of entities in the region:
Mainland Companies: This includes the liquidation of entities like Limited Liability Companies (LLCs), Civil Companies, and Establishments.
Free Zone Companies: We specialize in the liquidation of companies registered in any of the free zones across the UAE.
Offshore Companies: Our services extend to the liquidation of offshore companies operating in different parts of the UAE.
With our expertise and knowledge of UAE regulations, we ensure a smooth and efficient liquidation process for your company. Contact us today to discuss your specific requirements and initiate the liquidation procedure.
Process and Procedures of Company Liquidation in Abu Dhabi
Step-by-Step Guide to Company Liquidation in the UAE
- Prepare the resolution for dissolving and winding up the company.
- Appoint a liquidator for the company.
- Obtain an acceptance letter from the appointed liquidator.
- Get the resolution attested by a notary public.
- Submit the necessary documents to the relevant authority to initiate the liquidation process.
- Advertise the liquidation in a newspaper.
- Obtain clearance from immigration authorities.
- Obtain clearance from labor authorities.
- Obtain customs clearance.
- Obtain a bank account closure certificate.
- Obtain clearance from all relevant government authorities, such as the Road and Transport Authority (RTA), Electricity and Water Authority, Telecommunication Authority, Federal Tax Authority (FTA), etc.
- Submit the final liquidation report, along with all other clearances.
- The authority will issue the final cancellation certificate and remove the company’s trade name from the commercial register.
Note: If shareholders are not present in the UAE, the resolution or Power of Attorney must be notarized and attested by the UAE embassy in the respective country. It should also be attested and legalized by the UAE Ministry of Foreign Affairs and Ministry of Justice. In most Free Zones, notary public attestation is not required. Additionally, for sole establishments, this step is not applicable when liquidating a company.
Why Saif Chartered Accountants?
Saif Chartered Accountants is one of the leading registered accountants in Abu Dhabi, UAE. Renowned for their expertise in Audit, Accounting, VAT, ICV Certification, and Business Consulting, Saif Chartered Accountants has earned a remarkable reputation as a trusted Auditors in Abu Dhabi & Dubai.
Saif Chartered Accountants is dedicated to enhancing the business continuity of their clients, who are spread across the globe. They uphold the highest professional standards while delivering services and ensure the utmost confidentiality of the information entrusted to them. With a commitment to maintaining professional skepticism and staying updated with global audit methodologies and practices, Saif Chartered Accountants continues to provide exceptional services to their valued clients.
Initial Documentation Requirements for Company Liquidation in the UAE
- Copy of the Company License
- Copy of the Memorandum of Association, including all amendments
- Power of Attorney, if applicable
- Shareholders Resolution
- Copy of Shareholders’ Passports
- Copy of Emirates ID (Emirates Identity Card)
- Deregistration Application Form
- Notice Period for Company Liquidation in the UAE
Final Step for Liquidation of company
Once the notice period is over the following documents are to be submitted along with the above-mentioned documents:
| Liquidation report | Copy of Newspaper advertisement |
|---|
“After submitting the aforementioned documents, the authority will review them. Upon approval, the final payment to the authority must be made. Subsequently, the concerned authority will issue the License Cancellation Certificate, which serves as the final certificate for the company’s cancellation.”
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