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Liquidation

Liquidation is the method by which a Limited Liability Company, Sole Establishment and Free Zone Company closes its operation legally. Company based in United Arab Emirates can be dissolved voluntarily or when it can no longer pay its debts. There are two types of liquidation procedures: voluntary liquidation and compulsory liquidation. Advantages of Liquidation: It happens to the company, not the individuals within the company. Management of the liquidation is passed onto the appointed liquidator, relieving some of the stress that a director may incur as a result of the process. Once the company is liquidated, creditors can no longer … Continue reading Liquidation