A Auditing Liquidation Services UAE:
Liquidation of a business is a time-consuming process. A company’s liquidation entails far more than shutting it down; there are other variables to consider. The government officials must be informed, business licences must be revoked, and assets must be dispersed a nd the list continues. The legal requirements associated with a company’s liquidation are the most time-consuming. Among all of them, there is one that is particularly tedious.
There are a variety of causes for liquidation, but the most common include:
- The licence expiration date/duration specified in the articles of incorporation/association, or the achievement of the goal for which the entity was created
- The loss of the entirety or a significant portion of the entity’s assets Mergers
- Shareholders’ confirmation that the entity’s duration of presence can be terminated by a majority vote, and so forth.
The procedures of licence cancellation are one of the first steps in the liquidation process.
Depending on the type of business, there are a variety of options. When it comes to businesses and sole proprietorships,
You must file a cancellation request with DED. Clearances must also be obtained.
from the departments listed below-
- Human Resources and Emiratisation Ministry
- Residency and Foreigners Affairs Directorate
- The local authority in charge of water and electricity.
- The leasing organisation
Our expertise will cancel licences and seek approval from various government agencies, assisting you in obtaining a liquidation report as quickly as possible. A Auditing can handle everything from cancelling the licence to advertising the business’s liquidation in at least two newspapers, submitting declaration papers to the Department of Economic Development (DED), obtaining objection letters from partners, cancelling the partners’ visas, and liquidating the assets. We provide corporate liquidation services all throughout the country, and our expertise is designed to make it easier for our clients.