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Best Voluntary Liquidation Best Voluntary Liquidation |Best Legal Advisor In Dub

With Dubai at the forefront, the UAE has developed into a regional business hub. However, in some cases, companies may experience financial difficulties or shareholders may decide to relocate their business elsewhere. This requires the opening of proceedings for the liquidation of the company. This procedure depends on the <br>financial situation of the company at the time the procedure is initiated. The liquidation of a company in Dubai can also be referred to as the cancellation of a business license in the case when the owners decide to close their business in the emirate.<br>

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Best Voluntary Liquidation Best Voluntary Liquidation |Best Legal Advisor In Dub

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  1. Best Voluntary Liquidation Best Legal Advisor In Dubai Best Liquidation Services In Dubai info@alqada.ae

  2. With Dubai at the forefront, the UAE has developed into a regional business hub. However, in some cases, companies may experience financial difficulties or shareholders may decide to relocate their business elsewhere. This requires the opening of proceedings for the liquidation of the company. This procedure depends on the financial situation of the company at the time the procedure is initiated. The liquidation of a company in Dubai can also be referred to as the cancellation of a business license in the case when the owners decide to close their business in the emirate

  3. Types of Liquidation of Dubai Companies As mentioned above, a Dubai company can be wound up voluntarily or when it is no longer able to pay its debts. Company law provides two types of procedures for dissolving a company in Dubai: voluntary liquidation; forced liquidation.

  4. Types of Liquidation of Dubai Companies As mentioned above, a Dubai company can be wound up voluntarily or when it is no longer able to pay its debts. Company law provides two types of procedures for dissolving a company in Dubai: voluntary liquidation; forced liquidation.

  5. Our company formation agents in Dubai can provide you with more information on company liquidation procedures under commercial law. Dubai Company Liquidation Procedure Dubai Shareholders or creditors may apply for the voluntary or involuntary liquidation of the company. The shareholders will convene a meeting to decide whether to initiate a voluntary resolution process. A liquidator must be appointed at the same meeting. In the case of judicial liquidation, the procedure is initiated by a court order.

  6. The legal representatives of the company file the following documents with the Dubai Companies Registry: a document evidencing the dissolution of the company and the appointment of a liquidator; Copy with the signatures of the directors and the liquidator of the company certifying the liquidation; excerpt from the commercial register and business license; a copy with the prior approval of the trustee, along with a letter of consent to liquidation. An important consideration, regardless of the type of company liquidation process, is that a Dubai company must mark its company name as “in liquidation”.

  7. Cancellation of a business license in Dubai After the start of the liquidation process, the company must also be de-registered with the Dubai Commercial Registry and its business license revoked. To complete this procedure, the following documents are submitted: a final account of the liquidation assets according to a procedure approved by the shareholders or the liquidator; Clearance Letter agreeing to revoke a license issued by the Department of Labor; Declaration of dissolution of the company and appointment of the liquidator; Visa Revocation for Foreign Partners Sponsored by a UAE Citizen.

  8. Get in Touch Contact us to get more info info@alqada.ae +971 56 501 4959 2202,22 nd floor, the citadel tower,business bay , Dubai

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