COMPANY LIQUIDATION
Not just company formation, we also deal in company liquidation services. There are times when business owners are required to get the company liquidated. We have a team of dedicated experts to get things done for you. Right from licence cancellations to settlements with creditors, Probity Corporate is here to take care of everything.
In finance and economics, company liquidation is the process of winding up a company and distributing its assets to claimants. While it is a tedious process, you are not alone in the exhaustion you experience. Probity Corporate wishes to be the shoulder you lean on.
There are long processes that follow ending a company, and the experts over at Probity will plan an easy exit strategy for you to take off the weight.
We take care of all the cancellations of licences regardless of a sole proprietorship, partnership or LLC in Mainland as well as Free zone. Company liquidation services in Dubai are known for their professionalism and smooth working style. With such PRO service in Dubai, the company insolvency and the post insolvency formalities such as company liquidation is no longer a hectic journey.
What is the process of company liquidation in Dubai?
The hard bit was deciding to close your business as for any one winding up of a company is not easy. Now, Probity Corporate will deal with the remaining. We make sure to abide by all legal & financial liabilities and minimise any loss that may occur while dissolving your business.
From business name & tax registration cancellations to finishing off employee payments. With the experience we have in our team, we understand the legal necessities & the working of legislative authorities to ensure a successful liquidation.
It goes pretty much without saying that company liquidation in Dubai is quite a tedious process, and can lead to quite the bunkum if not handled appropriately. Probity, with more than two decades of experience, is here to help business owners every step of the way (From pin to the plane). Setting up a company in Dubai and dissolving/liquidating it is equally easy now.
Steps to follow for company liquidation in Dubai
- Step 1: If you are a Private Joint Stock Company, General Partnership, Public Joint Stock Company, Limited Liability Company, or a Simple Limited Partnership, you need a liquidator to your company who will act as a decision-maker in the liquidation process, as well as, represent your business in court.
- Step 2: All relevant cancellation forms must be submitted, including the business licence. The Department of Economic Development will issue a certificate of liquidation to the company at this point. Thereafter, the company must publish the notice of liquidation in a newspaper and debtors must submit all claims within 45 days.
- Step 3: Along with business cancellation, firm cards, contracts of partnership, and all visas sponsored by the company must be cancelled. In addition, all pending utility & telecommunication bills must be paid off, a bank account closure letter must be obtained, a resolution by shareholders in agreement to dissolve business from a public notary must be present, and any DED determined fees must be paid to achieve a deregistration certificate.
