There are situations when a company cannot continue operating for some reason, and the shareholders decide that it should be closed. Here comes the liquidation process. Liquidation a procedure to close a company or a branch of a company, a sole establishment or other institution and then distribute the property among creditors, stakeholders and the owners of the company. The worst scenario is when liquidation happens because of creditors` requests, but it also can be voluntary and have different reasons. There are many legal and financial issues to complete before a company is liquidated.
So, if you decide to close your business and cancel your license, we will support you and make sure your financial losses and legal liabilities are minimized and you do not get any problems afterward.
Our team of experts will help to ensure a stress-free and hassle-free liquidation process. We will deal with all governmental departments and concerned authorities for you and make sure all the liquidation related procedures (tax registration cancellation, employee payments, visa cancelations, business name cancelations, etc.) are carried out.
At RightStart, we will try and find alternatives like statutory liquidation or deregistering your business that can be less crucial. We will be ready to offer and explain all possible solutions, inform of their legal implications and costs.
RightStart’s professional and experienced team will assist you with preparation for the business liquidation process, lead you through your responsibilities as the owner of the company, consult you with the costs concerning closing down and other aspects of liquidation such as bankruptcy and insolvency.
Though Liquidation of a business can be stressful, at RightStart you will find support and professional solutions that will make the process smoother. If you are looking for a consultation on the ways and steps of company liquidation, the important actions to deal with legal and financial matters, please feel free to contact us.
Liquidation is the process by which a company or a part of company, sole establishment, Dubai free zone company or institution closes its business/operations and therefore the assets and property of the corporate or institution is distributed to creditors, shareholders and owners of the United Arab Emirates registered Company. Liquidation is also known as winding-up or dissolution, though dissolution. Liquidation sometimes can be compulsory and sometimes noted as a creditor’s liquidation or voluntary.