Company Liquidation is the procedure where the company finally decides to wind up its business operations, as it cannot continue the business operations. When the company experiences liquidation, they are selling their assets so that they can repay their obligations/liabilities and debt. The collected amount after selling the assets is then shared by the company shareholders.
There are various types of companies in the United Arab Emirates, such as LLC (Limited Liability Company), Free zone or a Sole establishment. When the company is being liquidated in the United Arab Emirates the properties and assets are then distributed to the creditor, company shareholders. In other terms, company liquidation is also named as winding-up of the business.
Documents required for company liquidation in UAE
- Trade license copy
- Memorandum of association copy
- Office tenancy contract (Attested by the RERA/Land Department)
- Passport Copy of Shareholder(s)
- Photo of the Shareholder (with white background)
- POA in our favor (Optional)
- UAE national’s passport copy
- UAE national’s Emirates ID copy
- Company stamp
- Import and export code certificate
- Federal tax authority registration number
- Last three VAT Filing reports
- Bank statement for last 6 months
- Profit and loss statement
- Balance sheet
Types of company liquidation
- Voluntary liquidation
- Compulsory liquidation
MSZ corporate services provider will assist you in company liquidation and ensures that you get the best service. It does not matter if you have an LLC, Free zone or a Sole establishment our experts will guide you to cancel your company. Call us today Contact Us or email at info@msz.ae