Assets Liquidation
At Aj & Co CHARTERED ACCOUNTANTS LLC we prepare the Liquidator’s report prepared by a Professional Auditor. This report is also known as No Liability Letter, Liquidator’s Letter.
For a Company Liquidation/Company Closure services in Dubai (UAE), first we issue one Appointment of Liquidator’s Letter to intimate the licensing authority followed by Final Liquidator’s report after thorough verification of all possible liabilities of any company.
We issue this Liquidator’s letter/No Liability Letter by completely verifying the liabilities of the company. Need to be Changed .. CAPITAL auditors and accountants is one of the trusted Liquidator in Dubai .
Understanding the complexity of Business/Company Liquidation in Dubai (UAE), CAPITAL auditors and accountants also takes care of the complete Liquidation process. Liquidating a company takes more efforts than starting a new company.
In UAE there are two types of Liquidations.
i) Voluntary Liquidation:
Voluntary liquidation is also referred to as shareholders liquidation. There are several causes that come into effect to voluntarily wind up a company such as expiry of the fixed duration, the purpose of the company formation is achieved, termination of the objects, merger of the company with another company, continuous business losses, the inability of the company to pay its debts. Shareholders of the company decide to dissolve the entity to avoid further losses to occur.
ii) Compulsory Liquidation:
Compulsory winding up a company refers to the forceful action when a company commit some serious offence against the law or insolvency of the company to carry business operations. It also comes into effect when creditors file complaints against the company to the local regulatory or authorities to claim their receivables. The local authority then takes action to forcefully liquidate the company and help the creditors to recover the money.