Company Liquidation Services

At Proficient, we offer efficient and seamless company liquidation services across the UAE. Our team helps businesses comply with local regulations while providing lasting solutions to close operations and settle all legal matters. Whether you're facing financial difficulties or simply looking to exit the market, our experienced liquidation experts simplify the entire process for you.

What is Company Liquidation?

Company liquidation is the formal process of closing down a business and settling its outstanding debts. It typically happens when a company is no longer able to pay its debts or continue operations. Liquidation can be a lengthy and complex procedure, but with Proficient by your side, we ensure the process is handled smoothly and professionally.

Types of Company Liquidation

There are two main types of company liquidation: voluntary and mandatory.

1. Voluntary Liquidation

Voluntary liquidation occurs when a company chooses to shut down of its own accord. Common reasons for voluntary liquidation include:

• Financial losses
• Achieving the original business goals
• Company no longer having a viable future or purpose
• Owner’s death or retirement

In voluntary liquidation, the business voluntarily ceases operations, and the company’s assets are sold to pay off outstanding debts. The decision is made by the shareholders or directors, and Proficient ensures the liquidation process is carried out in full compliance with legal and regulatory requirements.

2. Mandatory Liquidation

Mandatory liquidation happens when a company is forced to close due to legal or financial reasons, such as:

• Violation of laws or regulations
• Fraud or illegal activities
• Insolvency, where the company cannot meet its debt obligations

In mandatory liquidation, the government or court orders the shutdown of the company. Our liquidation experts work alongside legal authorities to sell off assets and ensure creditors are paid as much as possible.

Company Liquidation Process

The company liquidation process includes several essential steps, which Proficient handles with precision and efficiency:

1. Board of Directors Meeting: A formal meeting to approve liquidation.
2. Application Submission: Submitting an official request for liquidation.
3. Publication of Dissolution Decision: Announcing the decision to liquidate the business.
4. Liquidator Acceptance: Appointing a professional liquidator to manage the process.
5. Notice Period: Providing time for creditors and stakeholders to be notified.
6. Bank Account Closure: Closing the company’s bank accounts.
7. Final Tax Submission & Deregistration: Filing final tax returns and deregistering with tax authorities.
8. Visa Cancellations & Settlement of Dues: Canceling employee visas and settling any outstanding dues.
9. Liquidator’s Audit Report: Preparing a report detailing the liquidation process and outcomes.
10. Liquidation Certificate: Issuing a certificate confirming the successful liquidation of the company.

Why Choose Proficient for Your Company Liquidation?

With Proficient, you have a trusted and government-approved liquidator for your company liquidation process. Our team has extensive experience in handling liquidations across multiple jurisdictions. Whether you have a sole proprietorship, limited liability company (LLC), or public/private company, we provide tailored solutions for every business type.

Our Expertise Includes:

• Government-compliant liquidation procedures
• Handling all legal, financial, and operational aspects of liquidation
• Assisting with the settlement of debts and distribution of assets
• Fast and cost-effective liquidation services

Proficient’s Comprehensive Business Services

Beyond liquidation, Proficient offers a full range of business solutions to support your company’s success, including:

• AML Compliance: Ensuring anti-money laundering compliance.
• UBO Declaration: Assistance with the Ultimate Beneficial Owner declaration.
• Business Setup: Guidance on company formation and registration.
• VAT Services: VAT registration, filing returns, and VAT refunds.
• Due Diligence Audits: Comprehensive audits to evaluate business health.
• Accounting & CFO Services: Professional accounting and financial oversight.
• Business Valuation: Helping businesses assess their market value for mergers, acquisitions, or sales.

Get Expert Liquidation Assistance Today

If you are looking to close your business in a compliant, efficient, and hassle-free manner, Proficient Accountants is here to help. We offer a streamlined liquidation process tailored to your needs, ensuring that all legal and financial requirements are met. Contact us today to discuss your company liquidation and other business needs. Let us guide you through the process and ensure a smooth exit from the market.