Shutting down any business is as challenging as its opening in UAE. No matter, what kind of business possession you hold, you always require special permits and licenses to lock the company doors. The market is not the same every time, there are ups and downs in every kind of trade operation. It is not compulsory that all business entities would thrive in the marketplace. Anything is possible in this competitive world. It normally ensues when the legitimate unit is unable to generate any profits for shareholders and stakeholders or when the performance is underrated or has to undergo many unseen economic hassles. As consequence, the company owners decide to close down their business operations. They Consign all assets and properties among creditors and shareholders and known as a Company Liquidation. Also referred to as dissolution, creditor’s liquidation, or company liquidation process in Dubai.
The other Emirates becomes essential when a company does not have enough capital to perform everyday transactions or alleged. To involve in some serious offense or looking to migrate to another country or home country. In case of serious misdemeanors, the regulatory bodies can initiate a lawsuit against the company to wind up its operations.
UAE Free Zone Business company liquidation process in Dubai is summarized in three ways, including:
Summary Liquidation: This is one of the speed-up processes which takes only 6 months for the company closure and it works only when a company has no liabilities and capable of releasing it’s all its liabilities within 6 months.
Creditor’s Liquidation: At the time of asserting a company shut down and calls for a meeting with company creditors, they require the presence of the company owner.
Bankruptcy: This is a claim when the judiciary passes on the UAE Commercial Transactions Law No. 18 of 1993.
Company liquidation in UAE is typically a cumbersome process. The business owner should have knowledge of existing legal procedures and actions. We at Business link UAE, have all the essential expertise and excellence to assist and guide you through your company liquidation procedure in Dubai and any other Emirates. Along with the visa facilities, PRO services, mainland, free zone, and offshore company formation in UAE, we also help global investors or entrepreneurs to wind up their businesses in Dubai and all other free zones. Some of its liquidation services include:
There are some additional requirements for Dubai Free Zone company closures and in UAE as well, a business owner must ensure the following:
Note: Required Documents may vary from Free Zone to Free Zone.
Seek Business link consultants’ guidance to understand the entire company liquidation procedure in Dubai as well as UAE free zones per your requirements.
Sharjah Publishing City free zone is one of the leading free zones in the UAE.… Read More
What is Dubai Commerce City? Dubai CommerCity Free Zone is a new eCommerce Centre of… Read More
The UAE government is here with another exciting announcement for all visitors. It is all… Read More