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+971 50 476 6071
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Suite 411, Business Venue Bldg Oud Metha, Dubai UAE.
Contact us
info@mabade.ae
+971 50 476 6071
Suite 411, Business Venue Bldg Oud Metha, Dubai UAE.
info@mabade.ae
Over 10 years we help companies reach their financial and branding goals. Mabade is a values-driven consulting agency dedicated.
Suite 411, Business Venue Bldg Oud Metha, Dubai UAE.
Ensure that all legal requirements are met and complied.
The Companies Law regulates the dissolution and liquidation of companies. Under UAE law, dissolution is a termination procedure. Liquidation is a radiation procedure for the realization of a company’s assets and, to the extent possible, the payment of its debts.
Mabade is authorized to be appointed as liquidators and can prepare liquidation reports which is mandatory for winding up Companies and approved audit firm by DMCC (Dubai International Financial Center). The Company will be required to draft resolutions for winding up and appointing the liquidators. Once the liquidation process is complete, the Company will also be required to deregister the VAT account as well. The VAT experts in our team will be glad to take you over the process and provide necessary assistance.
We provide liquidation services for all entities – limited liability companies, free zone companies and offshore companies across Abu Dhabi, Ajman, Dubai, Fujairah, Ras Al Khaimah, and Sharjah. We also assist in the preparation of Board resolution, power of attorney, audit report
liquidator’s statement etc, which are mandatory documents required for liquidation.
An alternative solution to exit from the liquidation formalities is to transfer the shares from liquidating company to a third party. We can arrange a third party who will purchase the liquidating Company and deal with all matters related. This will help the removal of the shares from the company for the shareholders and directors.
Company Liquidation Services
MABADE AUDITING OF ACCOUNTS is regulated and approved audit firm by DMCC (Dubai International Financial Center). We are also registered as an approved company liquidators with DMCC in Dubai, UAE. Company liquidation in Dubai involves legal procedure and it can be a complicated and time-consuming process. To minimize the legal liabilities & financial losses while cancelling a trade license in Dubai, we offer company liquidation services by coordinating with government authorities to ensure the smooth and hassle-free completion of the liquidation procedure.
Liquidation of a Company in Dubai, UAE
Liquidation, dissolution or de-registration of a company is referred to the closure of business operations after paying off the liabilities to the creditors and distributing the assets of the company to its shareholders & owners. This is the details legal procedure, the regulation of land is
taken place to ensure all stakeholders are being considered at the time of winding up the company in Dubai, UAE.
Types of Company Liquidation:
A company can be dissolved voluntarily or forcefully by authorities when it can no longer be able to pay its liabilities. UAE Company law states two types of company liquidation method:
Voluntary Liquidation
Compulsory liquidation
i) Voluntary Liquidation:
Voluntary liquidation is also referred to as shareholders liquidation. There are several causes that come into effect to voluntarily wind up a company such as expiry of the fixed duration, the purpose of the company formation is achieved, termination of the objects, merger of the company with another company, continuous business losses, the inability of the company to pay its debts. Shareholders of the company decide todissolve the entity to avoid further losses to occur.
ii) Compulsory Liquidation
Compulsory winding up a company refers to the forceful action when a company commit some serious offence against the law or insolvency of the company to carry business operations. It also comes into effect when creditors file complaints against the company to the local regulatory or authorities to claim their receivables. The local authority then takes action to forcefully liquidate the company and help the creditors to recover the money.
How to Liquidate A Company in Dubai & UAE
The first thing to do in de-registering a company is to designate a liquidator firm. Only approved liquidators can be hired to start the liquidation procedure as defined in official regulations. The
firm who offer company liquidation services helps in closing the company operations in compliance with UAE company laws. It is advisable to hire a listed liquidator to avoid the penalties from local authorities in UAE.
Procedure of Liquidating the Limited Liability Company (LLC) in UAE
Dissolving/Winding up an LLC Company involves the following major stages:
Advertisement in the newspaper: Place an advertisement in a local
Visa Cancellation: Cancel visa of all employees & partner and obtain NOC
Procedure of Liquidating the Free Zone Company (FZE) in UAE
Almost every free zone has a different method to follow for company liquidation. Below are the most common and general procedure of de-registering a Free Zone Company in UAE:
Final Liquidator’s report: The liquidator will submit final company audit report and a letter stating that there is no claim from the third
We offer company liquidation services to all free zones across UAE. Some of the most popular free zones in UAE are below:
Dubai International Financial Center (DMCC)
Dubai Multi Commodities Center (DMCC)
Dubai Airport Free Zone (DAFZA)
Dubai Internet City (DIC)
Jebel Ali Free Zone (JAFZA)
JAFZA Offshore
Sharjah Airport Intl. Free Zone (SAIF
Zone)
Abu Dhabi twofour54 Free Zone
Ajman Free Zone
Creative City Fujairah
Umm al Quwain Free Zone
RAK Offshore
DMCC Approved Liquidators in Dubai
MABADE AUDITING OF ACCOUNTS is approved DMCC Liquidator Firm. We are listed as top liquidators in DMCC liquidators list. We have experienced team of liquidators that can help you in DMCC liquidation procedure and legal matters related to winding up a company in Dubai International Financial Center (DMCC). If you are worried about the future of your company, if you
have a lack of financial resources and if you feel that the company is making a continuous loses and getting towards the insolvency then sit back and hire our company dissolution services. We will take care of all the liquidation document preparation, utility cancellations, clearance certificates, bank account closure, no liability certificate, audited financial statements for liquidation and a
final liquidation report to smoothly done this process of liquidation with no hassle. This is why we rated as top registered liquidating firm with DMCC. We provide Company liquidation services to all type of business i.e mainland, free zone and offshore across the United Arab Emirates including firms under the jurisdiction of Dubai International Financial Centre (DMCC).
developing financial processes and procedures
“I cannot give you the formula for success, but I can give you the formula for failure. It is: Try to please everybody.” david oswald
Suite 411, Business Venue Bldg Oud Metha, Dubai UAE.
+971 50 476 6071
info@mabade.ae