In United Arab Emirates in the case a company has to close and be liquidated is essential a strict adherence to the formal procedures. Only a complete understanding of the legislation of every jurisdiction allow us to perform the required actions as commanded by the existing law. Al Bastaki Business Services has been successfully providing assistance to companies in United Arab Emirates for the closing of their operations in Dubai and mainland, Free Zone, and Offshore.
Once that has been taken the decision of liquidating a company the shareholders are just asking a smooth and easy exit strategy. Our services involves the negotiations with Government Departments and advise you on mutually acceptable solutions for employee, supplier and clients in order to reduce the time and costs involved as well as reduce to zero any other further risk that can come after closing your company.
Since company liquidation is a long and challenging procedure involving different engagements, Government departments and processes our approach is based on steps and clear action to perform. The first stage starts with the full analysis of the company’s liabilities, commitments and assets. After that is possible to proceed with the asset disinvestment, debt recovery and creditors payments, and prepare the accounts for the liquidation. Finally subsequently the termination of contracts and final settlement of payments is possible to proceed with the de-registration process including the publications and information required by the United Arab Emirates law.
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