Liquidation Services
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Liquidation Services in Dubai for Main Land Company and Free Zone Company
Liquidating a company in Dubai can be a complex and time consuming process, but our team of experienced liquidators in the UAE can simplify the legal procedures and assist you throughout the entire process. If your company is struggling to generate enough revenue to cover its expenses or has accumulated significant debt, we can help.
At Elevate, we prepare a comprehensive Liquidator’s report, also known as a No Liability Letter, which is prepared by a professional auditor. We then issue an Appointment of Liquidator’s Letter to inform the licensing authority followed by a Final Liquidator’s report that verifies all possible liabilities of the company.
Trust Elevate for streamlining the intricate and lengthy process of company liquidation in Dubai, providing comprehensive guidance from start to finish.
In UAE there are two types of Liquidations
- Voluntary Liquidation. When Business owners are not interested to run the business or unable to run the business. They jointly take a decision to move out of business.
- Mandatory Liquidation. In this case, the Licensing authority or UAE court orders to liquidate the company when the company does something wrong which is not permitted in their line of business.
How Elevate is Different from Others
As an experienced Auditor & Liquidator we know the finance linkage of any company from any domain. This understanding helps us to outline the Company closer process easy. Elevate has liquidated many companies those were Limited Liabilities Company, Free zone Company & Off Shore Companies. We help the Business Owners to move out of business legally and smoothly.
As a Liquidator our projected role to …
- Drafting the Board Resolution
- Publishing Advertisement in English and Arabic News Paper
- Settling with Employees
- Settling with the Debtors/suppliers
- Visa Cancellation
- Bank Account Closing
- Obtaining NOC form Dewa, NOC from Local telecom Company
- Registered Tenancy Agreement Cancellation
- De-Register with FTA
- Preparation of the Liquidator’s Report
- Submission of the final Report to the Authority to get the De-Registration Certificate
At Elevate we take care of Company Liquidation Services for all the Free Zones across UAE
- International Free Zone Authority (IFZA)
- Dubai Media City (DMC)
- Dubai Multi Commodities Centre (DMCC)
- Jebel Ali Free Zone (JAFZA)
- Dubai South Free Zone (DWC)
- Dubai Silicon Oasis (DSO)
- Dubai World Trade Center (DWTC)
- Department of Economic Development - DED
- Dubai Studio City (DSC)
- Dubai Production City (DPC)
- Dubai Flower Center (DFC)
- Dubai CommerCity
- Meydan Free Zone (MFZ)
- Dubai Internet City (DIC)
- GoFreelance (Tecom)
- Dubai International Financial Centre (DIFC)
- Dubai Airport Free Zone Authority (DAFZA)
- Dubai Design District (D3)
- Dubai Healthcare City (DHCC)
- Dubai Science Park (DSP)
- Dubai Auto Zone (DAZ)
- Dubai Knowledge Park (DKP)
- Dubai Outsource City (DOC)
- Dubai International Academic City (DIAC)
- Dubai Gold and Diamond Park
- Sharjah Airport Intl. Free Zone (SAIF Zone)
- RAK Offshore
- Ajman Offshore
- Abu Dhabi twofour54 Free Zone
- Ajman Free Zone
- Creative City Fujairah
- Umm al Quwain Free Zone
- Hamriyah Free Zone Authority (HFZA)
- Sharjah Research Technology and Innovation Park
Frequently Asked Questions (FAQs) -
What is company liquidation in the UAE?
Company liquidation in the UAE is the legal process of closing a business and settling all outstanding liabilities. It involves cancelling business licenses, clearing debts, and officially removing the company’s name from government records.
When should a company consider liquidation?
A company should consider liquidation if it’s no longer profitable, has completed its purpose, or cannot meet its financial obligations. It’s also necessary when the shareholders decide to exit or restructure the business legally.
What are the main types of liquidation in the UAE?
There are two main types:
- Voluntary Liquidation – Initiated by shareholders when the company is solvent.
- Mandatory Liquidation – Ordered by a court when the company is insolvent and unable to pay debts.
How long does the liquidation process take?
Typically, liquidation in the UAE takes two to three months, but it can vary based on the jurisdiction (Mainland or Free Zone), company structure, and the clearance process with authorities like the Ministry of Human Resources and the Federal Tax Authority.
What documents are needed to start liquidation?
Commonly required documents include:
- Shareholder resolution to liquidate.
- Trade license copy.
- Memorandum of Association (MOA).
- Passport copies of shareholders.
- Final audit report
- Clearance letters (labour, immigration, bank, utilities).
Can a company with pending debts liquidate?
Yes, but those debts must be settled during the liquidation process. A liquidator will be appointed to evaluate the company’s assets, settle outstanding obligations, and distribute any remaining funds accordingly.
Who appoints the liquidator in UAE?
In voluntary liquidation, shareholders appoint an approved liquidator (like Elevate). In compulsory liquidation, the court may appoint one.
Is VAT deregistration part of the liquidation process?
Yes. If your company is registered under VAT, deregistering with the Federal Tax Authority (FTA) is a mandatory step before liquidation can be completed.
What happens to employee contracts during liquidation?
Employee contracts must be legally terminated, and all end-of-service benefits and pending salaries must be paid before final clearance from the Ministry of Labour and Immigration can be issued.
How can Elevate Accounting & Auditing help with liquidation?
Elevate offers end-to-end liquidation support (from preparing documents and coordinating with government departments to settling liabilities and filing final audit reports). We simplify the process so you can exit cleanly and confidently.
Consult with us for your Company Liquidation
Get started with your business needs, we reach out with free and qualified guidance
Email Us: info@elevateauditing.com