COMPANY LIQUIDATION
Are you a business owner, company shareholder, or director considering winding up your business in the UAE? Market changes may necessitate closing your company, requiring expert assistance. Our experts handle the entire process, ensuring a hassle-free, quick, straightforward, and cost-effective closure with official documentation. With a proven track record, we serve all sectors and entity types, including onshore companies, LLCs’, professional licensed companies, and free zone and offshore companies across Dubai, Abu Dhabi, Ajman, Fujairah, Ras Al-Khaimah, Sharjah, and Umm Al Quwain.
FAQs on Company Liquidation
What is company liquidation or de-registration?
Company liquidation is the shutdown of a business or business segment. After settling all the outstanding funds, the residual funds is distributed among the owners, shareholders, and investors.
Why should I liquidate my company formally?
Even if your company has no outstanding debts, it is strongly recommended to formally liquidate the company instead of allowing its trade license to expire, as failing to do so can lead to various penalties.
Furthermore, the company, its directors, and shareholders may be blacklisted by UAE government authorities, affecting their ability to engage in other businesses or establish new companies in the future.For expert consultation, contact Fasttrack Consultancy via email at info@fasttrackconsultancy.ae email or call +97165225808 today
What documents will I need to start the closure process?
To begin the company liquidation process, the following documents are required:
- Most recent company trade license copy
- Memorandum & Articles of Association (including copies of any amendments/changes)
- Power of Attorney
- Shareholders Resolution (detailing the meeting to dissolve the company)
- Shareholders’ passport (some authorities will require a most recent certified copy)
- Emirates ID copy (if applicable)
- De-registration application (We will complete this process with the clearance documents)
How much will it cost to liquidate my company?
The fees associated with completing your company closure will vary depending on whether it is an onshore, free zone, or offshore company and its specific structure.
To receive a quote, contact Fasttrack Consultancy via email at info@fasttrackconsultancy.ae email or call +97165225808 today.
How long will it take to complete the liquidation process?
To complete and close a company, the process will vary according to where the company is incorporated, the type of structure, and business activities. Provided that all your documentation is in place, the timeframes to complete a company closure can range from 7 to 45 days or more.
What are the challenges I will face during the liquidation process?
Through careful planning and professional advice, the minimal risks connected to company liquidation in the UAE can be reduced. You can handle the company liquidation procedure easily with the assistance of professional consultants, ensuring adherence to legislations and reducing potential risks.
For expert consultation, contact Fasttrack Consultancy via email at info@fasttrackconsultancy.ae email or call +97165225808 today.