Overview

We provide liquidation services for all entities – limited liability companies, free zone companies and offshore companies across UAE.

Our distinctive approach involves three stages.

Analyzing The Scope Of Involvement

In this stage we will discuss with you and analyze your company’s liabilities, commitments and assets. A proper understanding of this helps us get insights into issues such as:

  • Debt recovery
  • Claims management
  • Asset disinvestment
  • Intimate creditors and debtors
  • Perform compliance due diligences
  • Assess liquidation costs

Once a thorough analysis of all these is completed we proceed to planning the liquidation strategy which involves:

  • Outline the liquidation timetable

Consider possible advance payments to shareholders

Managing The Liquidation

After the completion of the first stage, we initiate the liquidation process. This stage consists of the following:

  • Asset disinvestment
  • Debt recovery and creditors payments
  • Liaison with Notary and Government authorities
  • Preparing documents
  • Preparation of accounts for the liquidation
Final Closure

The steps in the final closure stage include:

  • Termination of contracts
  • Final settlement of payments
  • Information and publication
  • Deregistration
Notice of Company’s Dissolution & Appointment of a Liquidator:
  • Submission of Registration & Licensing Application Form
  • Duplicate of official document showing dissolution of the company, appointment of a Legal Liquidator, announcing his name and determining the method of liquidation. This may either be by a resolution of the company’s partners or general assembly duly notarized, or by court order
  • Certified copy of the signature of company’s director(s), and the company’s legal
  • Certified copy of the signature of company’s director(s), and the company’s legal Liquidator, as the case may be, authenticated by the Notary Public.
  • Original Certificate of Registration in the Commercial Register + the original trade License
  • Copy of the license of the liquidator + Certificate of condition auditor + Letter from the liquidator approving the liquidation of the company
Cancellation of License(s) & Cancellation from the Commercial Registration
  • Certificates issued in the other Emirates indicating cancellation of license(s) (if any)
  • Original copy of the final account of liquidation approved by the partners or general assembly and stamped by the legal liquidator
  • No-objection letter concerning cancellation issued by the Ministry of Labour & Social affairs
  • Visa Cancellation of the partner(s) in case they are sponsored by their license
  • Copy of the notice of the company’s dissolution & appointment of a liquidator to be published in the official newspapers
  • Letter from the partner for the agreement of the liquidation of the company
  • Ministry of Economy resolution (concerning private shareholding)
  • UAE Securities and Commodities Authority resolution (concerning public shareholding)