Company Liquidation in the UAE - Simply Solved - 0 views
started by Simply Solved on 02 Nov 20
started by Simply Solved on 02 Nov 20
started by Simply Solved on 02 Nov 20
started by Simply Solved on 02 Nov 20
Nowadays we are getting a lot of inquiries in related to liquidation of a company in UAE. Mainly the why mainland and so I thought to give a brief about company liquidation services in the wine mainland mainly for an LLC a limited liability company.
Let us take an example of a limited liability company in Dubai mainland. So company decided to liberate then they have to pass several solution. This is called the solution for dissolution here all the partners has to attend the node tree and they have to mention that while the company's liquidity and also they have to appoint the liquidator for crossing the company here.
If all the partners are in locally here in it then they can do that notary notarization in Dubai not resell it. So for any node tree in the UAE itself in any case if the partners are not available in the country then what they can do, they have to do the power of attorney.
They had to make a power of attorney in their country and they have to attest it from the UAE embassy. This power of attorney has to be sent to UAE and that has to be addressed from the Ministry of Foreign Affairs.
Once the Ministry of Foreign Affairs at this then again you have to do the legal translation to Arabic then finally from the Ministry of Justice the translation has to be attested. Once this power of attorney is ready then the power of attorney holder can go to the notary public along with the partners who are available in the UAE can sign the resolution and pass it.
This is the first stage once you've completed the solution not raised then what you can do. You heard how all the other legal documents like the trained licensed copy with all the pages passport copies of all the partners then the letter of appointment from the liquidator.
All these documents have to be submitted to economic department and the economic department in turn will transfer to the legal department and if the company is not having any in a legal Reema's then they will issue a liquidation certificate.
This liquidations of a certificate which is having the address of the liquidator and they are mentioning and notice in that. That is a fortified notice to be given to the clients or anyone who want to receive any money or any liabilities towards the company once the declaration certificate is issued by the VEB.
Then we have to give newspaper advertisements you have to you for advertisements in to local newspapers. The notice period is for 45 days now we have the time of four different is to complete all the other tasks.
The second stage I can explain now you have to get clearance from all the departments can say from the immigration from the labor. You may be having some employees in your company where the kinds of all the employees with the clear the labor. Could you clear the immigration you may be having it is a large number do numbers that cancel all the numbers and you get it clear and certificates you will be having a tendency contract.
You had to get clearance from landlord then what else you will be having a bank account yet clear the bamboos liabilities and cross the bank account. You had to clear they were there to clear customs and one another the RTA.
If the company is having any vehicles under the company name you had to cancel all the vehicles or transfer or the vehicle to some other then you will get a clearance from RTA. The main thing now you know the exception is there yeah I do diri sure from the VAD that is another process once you complete all this process.
Then we can have all the clearance letters then after 45 days we can submit the whole documents to DD again like the resolution original newspapers immigration and labor clearances. Then Liquidators letter and final liquidation report will submit back to the needy and DD will issue a final cancellation certificate.
If the company is not having any remarks from the legal department the cancellation certificate means if you will the commercial register in from the commercial register.
The company's name will be removed this is the total process of company liquidation in Dubai mainland and you should know to take minimum 60 working days to complete as I mentioned earlier 45 days for newspaper advertisement and initially the bottle solution passing and submit to DD and final submission to DD or this takes around 60 working days.
If you are doing the whole formalities continuously same like any other services here embraced Simply Solved can support you for completing all these procedure related to liquidation of your company in the wine mainland you