Consolidating company liquidation

Consolidating company liquidation

BR/1) from Economic department of the Emirate (Dubai or Abu Dhabi, Sharjah, Ajman, Ras Al Khaimah) • Bring Company’s Original License and different legal documents.

• Letter (Release letter) from the property owner in favor of the licensees apart from GCC nationals.

We will arrange for all the departmental clearance certificates, handle banking issues, labour and immigration clearance and any other requirements.

Please send us the company legal documents so that we can check them and advise you accordingly.

Group accounts consist of a consolidated balance sheet of the holding company and its subsidiaries as at the last day of the financial year and a consolidated profit and loss account of the holding company and its subsidiaries.

The accounts must give a true and fair view of the group’s financial position and trading A subsidiary may be excluded from a holding companies group accounts if its inclusion is not material in providing a true and fair view of the group’s trading, if obtaining the information necessary for the preparation of group accounts is too costly or time-consuming, the holding company’s interest is solely for resale or there are severe long-term restrictions, such as a restrictive covenant on a property, that substantially restricts the exercise of the holding company rights A holding company when publishing its accounts is not required to publish its individual profit and loss account.

The liquidation of company in Dubai, UAE becomes inevitable when a corporation don’t have liquid funds to hold on day to day transaction of the company, creditors aren’t being paid or company commits some serious offense, and a regulatory authority or agency in UAE of Free Zone Authority accountable for the relevant sector files a suit for the effecting the operations of the corporate.

Requirements of Cancellation for Companies in UAE Free Zones like JAFZA, DMCC, JLT, TECOM, DAFZA, Hamriyah, RAK, DSO, Dubai SME, • Resolution from Board for liquidating the corporate and appointment of liquidator • Immigration and labour departments clearance from free zone authority. • Liquidation letter by registered auditor for FZE & FZCO solely to be submitted • All fees and charges are to be settled with the free zone.We are expert in all legal and regulatory issues concerning the liquidation of a company and have executed more than 100 company’s liquidation jobs in UAE under the direct supervision of our Partner and CEO.Dawn Consultancy working methodology / work approach will cause minimal disruption in your routine work.Dawn Consultancy is approved Auditor and Legal Liquidator from all free zones and economic departments in UAE .We are also legal liquidators for the mainland LLC companies in all the emirates.

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• Clearance Certificate from free zone authority (For corporations transferred from free zone) to be submitted. • Clearance Certificate from CLD Government section • Original License Above mentioned procedures and necessities are common in the majority the free zones of UAE, However, requirements are continuously changing and might vary from one free zone to the opposite.

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