When a company ceases its operations, all the assets of the company are distributed to the shareholders of the company after settlement of dues to creditors and lenders. However, there is much more to the process of liquidating a company. The regulations are in place to ensure all parties involved are treated fairly – that one party does not benefit at the expense of others involved. There are several reasons for a liquidation audit. Anytime a liquidation of a company is called for, irrespective of the reason, it is important that all the company’s assets are accounted for. You can count on us to get the best liquidation services in Dubai.
It is just as important to discover and list all of the company’s obligations. A liquidation audit report will list the assets and liabilities of the company and should preclude any objections from creditors. As the liquidation continues, all the company’s assets are converted to cash and distributed to the creditors or assigned to other Company obligations. There are specific rules concerning the way the assets are distributed. It is extremely important that all the relevant information is available to AKAI Business Solutions as the liquidator. We provide the best liquidation services in Dubai.
Of course, it is a very rewarding experience to set up a company in the UAE, but unfortunately, some businesspersons do not play a very long innings. There are many reasons due to which the businessperson has to suddenly cease the operations. If the company is registered as a tax group, its name must be eliminated from the list to avoid any hassle in the future.
We accomplish our duties in a systematic process. This makes us a reliable liquidation services in UAE. Let us learn more about the liquidation system:
Our liquidation audit helps assure the information is accurate and complete. It is important to present the correct information before the authorities. Liquidation audit performed by us is required before any company can be closed in the UAE or any of the Free Zones in UAE. Dubai Economic Department (DED), Jebel Ali Free Zone Authority (JAFZA), Dubai Airport Free Zone Authority (DAFZA), Dubai Multi Commodities Center (DMCC) and Dubai Silicon Oasis (DSO) all require liquidation audit in their respective authority regions whenever a company is closing its operations and canceling its license. Everything should be done in a systematic order to avoid hassles and confusion. The system must be followed, even when the company is winding up.
Abu Dhabi, Sharjah, Hamriyah Free Zone and SAIF Zone also have regulations concerning Company liquidation and for liquidation audits very similar to other regions within UAE. Feel free to contact us while searching for liquidation services in UAE.
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