Company Liquidation, Wind up and Deregistration
According to the commercial law of the United Arab Emirates -UAE, The company can or must be liquidated and Deregistered (Company Deregistration in Dubai) in the following cases (one case only is enough
- If the majority of the shareholders decide to liquidate the company.
- If the company suffers insolvency which caused a cumulated losses which is greater than half of the Authorized Capital.
- A court ruling to dissolve and liquidate the company.
- Voluntary liquidation can also happen if a vital member of the organization exits the company and the shareholders decide not to continue operations.
FAR-Farhat Office & Co has in-house Regulated Liquidator by the Courts in Dubai UAE, and the DIFC authorities in Dubai. The liquidators in Dubai can be appointed by the shareholders, or by the court. The Liquidation and Company deregister proceedings especially the physical part can be very complicated and lengthy. We can in FAR-Farhat Office & Co deregister your company smoothly and in short time.
Voluntary Company Liquidation & Deregistration in Dubai- UAE
Requirements and Tasks Execution:
- Nominate a Liquidator - must be a regulated Auditor.
- The board of the company has to issue a resolution that company is under liquidation, a liquidator is appointed and must mention name and address of appointed liquidator.
- The appointed Liquidator must announce a brief of the board resolution and the liquidation in two local newspapers.
- The creditors - if any - must submit their claim or /and their objections - if any - within the time limit mentioned in the announcement. Other interested parties have the right to object the liquidation during the time limit.
- In case the time limit is not enough the liquidator can ask the shareholders for time extension.
- When the liquidation task is fully completed, a liquidation report must be issued by the appointed liquidator.
- On closing the liquidation, an application for the company deregistration along a copy of the liquidation report must be submitted to the company's registrar. Once the application is approved the company's registrar office will issue a certificate of deregistration.