Liquidation of a company is a long and tedious legal process that needs to be carried out with great care and precision. The following are the steps and procedures of a company’s liquidation.
- Notice of company’s dissolution and subsequent appointment of a liquidator; when a company wants to liquidate, it has to pass a resolution of liquidation of the company in the shareholders meeting.
- In the case of all Limited Liability Companies registered in the UAE, this resolution has to be attested and notarized by the Notary Public.
- If the shareholders are not in the UAE, then the resolution has to be notarized and attested from the UAE Embassy of that country in addition to getting attested and legalized the same from the Ministry of Justice and the Ministry of Foreign Affairs in the UAE.
- In case of companies that are registered at the UAE Freezones, attestation from the Office of Notary Public is not mandatory.
- In the statement of resolution, the appointment of a Liquidator must be mentioned along with his/her full name and address. However, this is not required for sole establishments.