What is Company Liquidation?
Company liquidation is the formal insolvency procedure allowing a business to systematically wind up its corporate institution by deregistering its license, liquidating its assets and distributing them to shareholders, creditors, and legal parties, thereby avoiding any accumulated fines, penalties or retaliatory procedures incurred upon the company’s license. There are two case scenarios in company liquidation:
- Voluntary
- Company Liquidation involves a slightly complex procedure which requires clearance letters from different regulatory authority.
AL SAADI & ASSOCIATES AUDITING is authorized to act as a liquidator provide liquidation services for limited liability companies, free zone companies and offshore companies across the UAE in accordance with each authority’s compliance procedure.