Approved Liquidators DMCC - Elevate Accounting & Auditing

Approved Liquidators DMCC

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Approved Liquidators DMCC

Company liquidation is a process where a company or a business has to wind up its operations when they are no longer able to run their business. This is also known as License Termination & License Cancellation. The procedure and requirements for liquidation vary in the different zone. The rules and processes for Liquidation in DMCC are different than any other zones. Winding up a company is a complex task and requires a lot of paperwork and legal work. The Liquidator in DMCC simplifies the complex tasks and helps the company to the liquidation process. The DMCC approved liquidators assists the company to wind up with the compliance of the UAE company law. A liquidator is either appointed by the court or by the stakeholders.

Types of DMCC Company Liquidation

The type of Liquidation to be chosen depends on the circumstances that invite the windup of the company. Below mentioned are the following types in which DMCC Company Liquidation can be conducted.
  • Summary Winding up – This type of wind is done when the director of the company declares that within a period of 6 months the company can wound up.
  • Solvent Winding Up – This type of wind is done when the director of the company declares that within a period of 12 months the company can wound up.
  • Insolvent Voluntary Winding Up – This type of wind is done when the company has to pay off the debts to its creditors. As the name suggests, this wind-up is voluntarily done by the company.
  • Involuntary Winding Up by The Competent Court – This type of wind-up is done when the company receives orders from the DMCC authority to wind up the company. The company might receive the order in the following cases –
  1. When the company has been struck off.
  2. When the company has violated the regulations of DMCC.

What circumstances invite company liquidation in DMCC?

Liquidation occurs when the company has reached the point when there is no other chance except turning their assets into cash and getting the company liquidated by the approved liquidators in DMCC. This procedure is done to pay off the debts to the creditors of the business. Following are the circumstances the invites company liquidation in DMCC –

When the registered company doesn't comply with the regulations of DMCC.
When the registered company doesn't comply with the regulations of federal laws
When the company has a shortage of working capital to function.
When there is poor management in the company.
When the company is unable to pay off its debts and the liabilities exceed the assets.
When the company is forced to dissolve itself in order to pay off the debts.

Procedure for the Liquidation of a company in DMCC

The companies who are unable to abide by the guidelines stated by the DMCC have to follow the below-mentioned process and get the liquidation done by DMCC approved liquidators
  • Visit the DMCC portal then log in and upload all the stated documents.
  • Cancel any active visas, TAC, PIC.
  • Submit the original documents required on the DMCC portal.
  • After the submission of the documents, DMCC shall publish a company license termination for 14 days. These 14 days is a grace period where one can notify the authorities if they have any
  • objection to the wind up of the company.
  • The company gets deregistered when no objections have been raised in the 14 days. A letter of termination is issued by the authority after the deregistration and license termination.

DMCC company liquidation with Elevate Accounting and Auditing

Elevate is an approved liquidators in DMCC. We assist and guide the companies in liquidation by making sure the guidelines of DMCC are followed in every step. As a DMCC liquidator we will provide a Liquidator’s report by auditing your company which will make the liquidation process smooth.

Frequently Asked Questions (FAQs) -

An approved liquidator manages the official winding-up process of a DMCC company, ensuring compliance with DMCC Authority rules and UAE laws.
Shareholders or company directors typically appoint an approved liquidator to handle the company’s liquidation.
The process generally takes between 3 to 6 months, depending on company complexity and clearance from relevant authorities.
Yes. All company debts, fees, and fines must be cleared before the liquidation can be finalized.
No. Once liquidation begins, trading must cease until the process completes.
Yes. The DMCC Authority must approve the appointed liquidator and the liquidation plan.
Documents include the company’s trade license, shareholder resolutions, audited financial statements, and a liquidation application.
Yes. After liquidation is complete and all obligations met, the company’s license is officially cancelled.
Yes. Foreign investors can liquidate their DMCC companies through approved liquidators.
Yes. Elevate offers end-to-end assistance with documentation, approvals, clearances, and final closure.

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
+971 56 167 2533
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