Liquidation Services
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Liquidation Services for UAE Entities
Nafa Consultant provides comprehensive liquidation services for all types of UAE entities, including LLCs, free zone companies, and offshore companies.
Our expert team is equipped to assist with the entire liquidation process, from start to finish or as required by the client.
What is Liquidation?
Liquidation is a formal insolvency procedure that involves the closure of a company and the sale of its assets to settle debts, pay expenses, and transfer any remaining balance to shareholders. Once the liquidation process is complete, the company ceases to exist.
Reasons for Liquidation
There are two main reasons why a company’s liquidation may be required in the UAE. The first reason is if the company has achieved its original purpose and is no longer needed, and the second reason is if the company is considered bankrupt.
Types of Liquidation
There are two types of liquidation: voluntary and compulsory.
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Voluntary liquidationVoluntary liquidation occurs when a solvent company’s shareholders decide to liquidate the company or when an insolvent company’s directors stop trading and liquidate its assets to pay its creditors.
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Compulsory liquidationCompulsory liquidation occurs when a company’s debts are not paid on time, and creditors ask the courts to liquidate the company.
What Does a Liquidator Do?
A liquidator is a UAE-registered agent or a firm, typically a chartered accountancy or audit firm, that is assigned to act on behalf of the company to sell its assets to discharge any outstanding liabilities.
A liquidator may be appointed by shareholders via resolution or by the courts in the case of compulsory liquidation. Once appointed, the liquidator will issue an official letter of acceptance and prepare a statement of affairs and the liquidator’s report.
How Nafa Consultant Can Help
The liquidation process can be lengthy and costly, requiring companies to liaise with several external parties and authorities to ensure a timely completion of the process. Nafa Consultant offers comprehensive liquidation services for all types of UAE entities, ensuring a hassle-free and cost-effective process.
Our expert team will assist with all necessary documents and procedures and ensure a timely completion of the liquidation process.
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Hassle-free and cost-effective liquidation services
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Experienced and expert team to handle the process
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Assistance with all necessary documents and procedures
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Timely completion of the liquidation process
Ready to liquidate your UAE company? Let Nafa Consultant handle the process for you. Contact us today to schedule a consultation and get started.
