Liquidation of Companies

Many a times businesses would like to restructure and realign their strategies in order to effectively compete in the everchanging global scenarios. This may result in taking a decision to relocate the office/ company outside the existing jurisdiction. This may trigger the action towards liquidation of companies. M&M understands the requirements of different jurisdictions for liquidation of companies and can guide with the right steps and process. Businesses who are looking for liquidation services in Dubai, UAE can get in touch with us for understanding the procedures, documentation fees and timelines for completing the job.

Common process across jurisdiction is to pass a aboard resolution noting down the reasons for liquidation and appointing the liquidator. Subsequently carry out transactions to nullify all the assets and liabilities, cancel visa, close bank accounts and obtain NOCs from relevant authorities. Post this, liquidator will issue a liquidator’s report which needs to be submitted to the reporting authority. In certain cases, authorities might require publishing in two newspapers.