Company liquidation in the UAE mainland is a structured process that requires strict adherence to legal procedures. This guide provides a detailed overview of company liquidation services for Limited Liability Companies (LLCs) in Dubai mainland, including the steps involved, necessary documentation, and timelines. What is Company Liquidation? Company liquidation is the formal process of closing down a business, where all its assets are sold to settle liabilities. This process ends with the dissolution of the company's legal identity. Steps for Liquidating an LLC in Dubai Mainland 1. Passing a Resolution for Dissolution The first step in liquidating a company is for all partners to pass a resolution of dissolution. Here's what this entails: Partner Agreement: All partners must attend a notary public and agree to the liquidation by signing the resolution. If partners are unavailable in the UAE: Power of Attorney (POA): The absent partner(s) must create a POA in their home coun...
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