Company Liquidation
Service In UAE
Company liquidation in the UAE is the official process of closing down a company in the country. Also, it is known as "winding up" or "closing" a firm. During liquidation, all of the company's assets are liquidated, and the earnings are used to repay any remaining obligations and expenditures. After meeting these obligations, any remaining funds may be split among the company's shareholders.
When a company goes into liquidation, it ceases to operate and stops employing employees. The company's business licence is cancelled as part of the liquidation process, and its name is removed from the Trade Registry. The government currently considers the business to be defunct.
According to the commercial law of the United Arab Emirates (UAE), a company may be liquidated and deregistered in any one of the following cases:
Completion of the company's term
Achievement of the company's objectives
Bankruptcy
Unanimous decision of the shareholders
Court order
Shareholders' resolution
