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DMCC Company Liquidation UAE
The winding-up of a DMCC Company shall be made in accordance with the rules and regulations issued by the DMCC Authority. The Company Regulations 2020 have introduced detailed provisions on the winding up of a DMCC company. These provisions include situations wherein the DMCC company is undergoing a solvent winding-up, summary winding-up, insolvent winding up, or involuntary winding-up.
The winding-up of a Company may be:
Circumstances in which a company may be wound-up voluntarily
A Company may be wound-up voluntarily:
- In circumstances provided for in the Articles of the Company; or
- If the Company resolves by unanimous resolution at a General Meeting that it shall be wound-up voluntarily; or
- Where Regulation 96 applies, “the losses of a Company reach 75 per cent. or more of the Company’s Share Capital, the Company shall within 21 days of becoming aware of the extent of its losses, call for a General Meeting, at which a resolution for a voluntary winding-up, or alternatively for the recapitalization of the Company to the extent of its losses (in accordance with Regulation 28), shall be proposed”.
Steps of liquidating a company in DMCC through DMCC portal:
- Complete the required fields and upload the first set of requirements for company termination on DMCC Portal.
- Cancel all active visas, PIC and TAC through DMCC Portal.
- Upload 2nd set of requirements for company termination on DMCC Portal.
- Submit all original requirements to DMCC.
- License Termination will be published by DMCC for 14 days.
- Upload a copy of the liquidator report ( for DMCC company liquidators) on the SR and submit the original to DMCC.
- De-registration will be published by DMCC for 14 days.
- De-registration and License Termination Letters will be issued to clients.
How we can help in the liquidation of a company in DMCC?
Bader Saleh Auditing handles the liquidation process as approved and registered DMCC company liquidators in DMCC for all types of entities in DMCC and in UAE i.e. Limited Liability Companies (LLC), Partnerships, Civil Companies, Free Zone Establishments and Free Zone Companies.
Being approved liquidators in DMCC and an approved audit firm in DMCC, we can prepare both liquidators reports and audit reports to submit to the Authorities for liquidation purposes in main-land and free zones.
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Call us or submit your questions, comments, or proposal requests using our contact form.
Thinking of winding up a DMCC company?
We as an approved and registered DMCC company liquidator help in solvent and insolvent winding up of a company under the rules and regulations issued by the DMCC authority. We prepare the liquidation report on the behalf of companies.
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