BMS Auditing is offering smooth company liquidation services in UAE, KSA, Qatar, Bahrain, Oman, UK and USA. We have experienced company liquidators. We offer a full range of liquidation services and can help you find the right solution.
Company liquidation is the process of shutting down a company and closing all the operations related to the company. Company liquidation is an event that occurs when a company is at loss and has no money to pay its remaining debt.
Closing a company can be a time consuming and a complicated procedure but our experienced and influential liquidators can simplify all the legal procedures and assist you in company liquidation process.
Types of Company Liquidation
There are two major types of company liquidation:
- Voluntary liquidation
- Mandatory liquidation
There may be multiple reasons why a company is liquidated of its own accord. There could be number of reasons for voluntary liquidation such as financial losses, death of the owner, the goal of the company is achieved or maybe the goal of the company do not exist anymore.
The voluntary liquidation is a business decision. This phase is very often a challenge for management who is typically operating vehicles as a going concern. During this phase specific legal, operational and financial aspects have to be considered, as well as their timing.
If a company violates the rules and regulations of the authorities or commits a crime such as fraud or any other serious offense, or maybe because it is insolvent, ie. it no longer has any money to continue and cannot meet its existing debt obligations to its creditors.
The government will immediately close the company and in this case, mandatory company liquidation is required as per the court order. With the help of an approved liquidation firm, the assets are liquidated and the creditors paid back as much as possible.
Company Liquidation Process
- Board of Directors meeting
- Submission of Application for Liquidation
- Publication of the Dissolution Decision
- Liquidator Acceptance
- Notice Period
- Bank Account Closure
- Final Tax Submission & Tax Deregistration
- Visa Cancellation & Settlement of Dues
- Liquidator Audit Report
- Liquidation Certificate
Hire BMS Auditing as your Liquidators
We are a Government-approved liquidator and have experience with company liquidation in Dubai, Abu Dhabi, Saudi Arabia, Qatar, Bahrain, Oman, UK and USA. Our expertise ranges from Sole Establishment / Sole Proprietorship to Legally Limited Company (LLC) to Legally Limited Partnership (LLP) to Civil Company along with private and public company liquidation.
BMS Auditing can act as a Liquidator and conduct the complete company liquidation process. We have a team of Legal consultants and Auditors who all specialise in conducting liquidation processes and provide you with fast and low cost company liquidation services in UAE, KSA, Qatar, Bahrain, Oman, UK and USA.