Company Liquidation is a process of selling or dissolving a business, in other words, ending a company’s existence. The process involves selling the business’s assets or converting them into monetary funds, which are distributed to shareholders, company members, and any outside creditors who are owed money after the company is liquidated. Businesses don’t need to be insolvent to liquidate; liquidation can be voluntary or involuntarily.
Spectrum Audit, as company liquidator will ensure a 100% supervision in the liquidation process, turning the company’s assets into cash, discharging the business’s liabilities, and distributing any leftover money to the shareholders in the manner set forth in the company’s constitution. Company owner can also decide if the liquidation of the business is partial where the owner decides to close only one aspect of its business and remains an on-going concern under a new, smaller business profile . Only after all these steps are completed, the company is formally declared as liquidated or dissolved.
Spectrum Audit is an expert in the Company Liquidation process. Reach us to have a frills free life in your journey in Dubai or any of the Emirates in UAE.We at Spectrum will assist you in taking care of all the legal procedures involved in the liquidation process of your company whether in the mainland or any free zone.
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