This article outlines the step-by-step procedure, highlighting key milestones from notarized minutes to the grace period for debtors.
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Liquidation of LLC Company in Dubai.
- Notarised Minutes for Company Confirmation.
To kickstart the liquidation process, the LLC Company must prepare notarized minutes of the general assembly. This crucial document confirms the company’s decision to liquidate and formally appoints a liquidator.
- Official Letter from Registered Liquidator.
Following the confirmation, a pivotal step is to arrange an official letter by a registered liquidator, accepting the duty. This ensures compliance with legal requirements in the UAE, laying the foundation for a smooth liquidation process.
- Application for Cancellation through DED.
Smooth navigation through the Dubai Department of Economic Development (DED) is essential. LLC Companies must apply for cancellation by filling the required form through DED or other approved channels. This step signifies the formal initiation of the liquidation procedure.
- Issuance of Liquidation Certificate by DED.
Post-application, the DED reviews and approves the process, issuing a coveted liquidation certificate. This certificate holds paramount importance, solidifying the LLC Company’s official closure status.
- Public Notice in Local Newspapers.
Transparency is key in the liquidation process. LLC Companies are mandated to publish a notice of liquidation in two local newspapers. Notably, debtors are granted a 45-day grace period from the notice’s issuance to submit their claims, ensuring a fair and orderly resolution.
FAQs about Liquidation of LLC Company Dubai.
In the intricate realm of LLC Company liquidation in Dubai, a structured approach is imperative. This article, from notarized minutes to the grace period for debtors, ensures a lawful and efficient closure.
For unparalleled expertise in the Legal Liquidation of LLC Companies in Dubai, Al Mulla Lawyer & Legal Consultant is your go-to source.
Navigate the complexities with confidence, ensuring a smooth conclusion in Dubai’s dynamic business environment.