FTA APPROVED TAX AGENCY
VAT Returns deadline is 28th of every month.             Excise Tax Returns deadline is 15th of every month             ESR Notification Submission deadline, 6 months from the end of the financial year             ESR Report Submission deadline, 12 months from the end of the financial year             Click here to know the Foreign Exchange (FX) rates applicable for VAT from the UAE Central Bank website
+971 4 2699 329

How Can We Help In Covering Company Liquidation in Dubai

Company Liquidation in Dubai is a procedure where an LLC firm, free zone Company, sole establishment, or any establishment gets to close the operation. All the properties or assets of the firm will then get shared with the creditor and stakeholders of the firm. We, at Spectrum, would like to help you cover all the liquidation procedures on behalf of your firm. Liquidation is known as the winding up of a solution of a business. The technical dissolution will correspond to the final stage of the liquidation procedure.

Get to the types:

Before you plan to close down your business, we will let you know about the types of liquidations to follow. Before closing down any business, there are points like business name cancellation, cancellation of taxation registration, employee payment, and more, which must be covered. According to our experts, liquidation can either be compulsory or voluntary. Some voluntary liquidation is further controlled by the company’s creditors.

  • Voluntary:

For voluntary liquidation, the company’s shareholders will decide to just wind up the firm as they have no money to pay out the creditors. During such instances, the creditors will receive priority.

  • Compulsory:

In this type, the company liquidation will be presented by the court order as the first rule to follow. Here, the company’s assets will get distributed to the creditors, depending on their priority claims.

What is our process to cover Company Liquidation in Dubai?

We are ready to help you cover the Company Liquidation in Dubai using simplistic steps, which are easy to understand.

  • First, we would like to help the company by presenting official documents to verify that the decision to liquidate the company has been thoroughly taken.
  • This documentation will include the name of our appointed liquidator.
  • The main registration certificate should be there as well, with the credentials of our liquidator.
  • These documents are all notarized. 
  • Once the initial steps of liquidation are accomplished, we ensure that the business cancels any special permits or licenses that it might have obtained to perform multiple Dubai-centric activities.
  • All the Dubai branches must present original documents from the parent company, and our liquidator will help you in matching those tasks as well.

Why choose us for company liquidation?

The liquidation process can indeed get lengthy and costly at the same time because the firms must liaise with various external parties for arranging everything on time. Missing any such document or step will result in unwanted complications or delays. 

We, at Spectrum, provide liquidation services to cover all kinds of UAE entities. Whether you own an LLC, a free zone firm, or even an offshore company, we are ready to provide the best Company Liquidation in Dubai to all of them. Join us for that complete liquidation help. We will assist you with a single part or covering various parts of the procedure, whichever the client deemed perfect. All it takes is a single call from your side, and we will head toward you right away!

To learn more about our process, call us from Spectrum Accounts at +971-4-269-9329. You can email us at [email protected] to resolve some further understandings.

FAQ

What happens after putting your firm into liquidation?

In case the firm goes into liquidation procedure, then its assets like the stock and property are liquidated. It means those objects turn into cash for payment to the creditor of the firm.

What will be the rules of liquidation?

The rules will need an insolvency professional, to be pretty independent of the firm debtor to work as a liquidator for the firm. The liquidator attempts to realize the assets of the firm as the best possible value under National Company Law Tribunal.

Will liquidate a firm affects you personally?

In case the liquidator states that you have not acted in the firm’s best interest, you will be held responsible for the debts. In case these circumstances apply, then company liquidation might affect your personal credit rating.

How long a liquidation company takes to dissolve?

There won’t be any legal time mentioned on business liquidation. It might take anywhere from 6 to 24 months from start to finish, to help liquidate the firm completely. It depends on the position of the firm and the liquidation form.

What are the liquidation types?

There are mainly 3 types of liquidations. Those are Forced or Compulsory, Members Voluntary liquidation, and the Creditors Voluntary Liquidation.

Spectrum offers end-to-end accounting and audit services, simplifying its client’s life by adopting to the emerging practices to provide its clients complete solutions. We specialize in a spectrum of services including Accounting, Auditing,Value Added Tax (VAT), Economic Substance Regulations (ESR), Mergers and Acquisitions (M&A), Company Formation and Liquidation, Country by Country Reporting (CbCR) and Business Advisory Services and other business services. Our magnitude of experience, competence and reputation makes us a distinctive world-class accounting service provider.

Call us today for a free consultation.
Tel: +971 4 269 9329
Mail: [email protected]
Anti Money Laundering Law   contact us
Enquire with Us