In the Dubai Multi Commodities Centre (DMCC), company liquidation is the formal procedure of closing down a company and disposing of its assets. The process is governed by Law No. 3 of 2020 issued in the Emirate of Dubai and the DMCC Company Regulations 2020, which replaced the earlier 2003 regulations, with the detailed liquidation … Read more
What Is Company Liquidation? Company liquidation is the formal legal process of closing a business, settling its outstanding debts, and distributing any remaining assets among shareholders or stakeholders. The process is most commonly associated with insolvency — a situation where an organisation can no longer meet its financial obligations as they fall due — but … Read more
Company liquidation is the legal process of winding up a company’s affairs, settling its debts, distributing remaining assets, and formally dissolving the business entity. It can be initiated for several reasons: financial difficulty, inability to pay debts, expiry of the company’s fixed duration, a deliberate decision by shareholders to close the business, or a legal … Read more
Claiming insolvency in the UAE doesn’t automatically mean the end of a business. UAE bankruptcy law is built to give financially distressed companies a genuine path to restructure and recover, not just a mechanism to shut them down. As soon as a business recognizes it can no longer meet its debts, engaging a licensed insolvency … Read more
Although the local authorities in the United Arab Emirates (UAE) have announced the distribution of economic stimulus packages in order to minimize the disruption that’s caused by the COVID-19 pandemic, there are still businesses that are negatively affected by the disruption in one way or another. Understanding the practical options for bankruptcy and insolvency, as … Read more
No matter what kind of Company you run in the UAE, you are required to cancel your business license and all relevant permissions as soon as you decide to close your business. The procedures for proper Company Liquidation in UAE Free Zones and cancellation of its license are summarized in this article. The appropriate governmental … Read more
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