Company Liquidation in Dubai | Company Liquidation Process in Dubai

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Spectrum Accounts

• Company Liquidation Process in Dubai

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Company Liquidation Process in Dubai What You
Need to Know 

• Liquidation is the process of selling all of a
  company's assets, splitting the proceeds, and
  distributing the proceeds to creditors and
  shareholders. This procedure is used when a
  business can no longer fulfill its financial
  responsibilities and must shut down completely.
• More companies are going out of business in Dubai
  than ever before as a result of rising costs,
  declining sales, and difficult economic
  conditions, and it's critical to know what
  actions to follow if your company is liquidated
  through no fault of your own. Here's all you need
  to know about the Process of Company Liquidation
  in Dubai.

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Ownership Transfer

• Ownership of all assets and debt moves from one
  person or group of individuals (the old owner) to
  another in in Company Liquidation Process(the new
  owner). This can happen as a result of a
  voluntary transfer or a court order.
• You must have an owner surrender their ownership
  to begin the liquidation process you will then
  have enough documentation that you own everything
  when it comes time to distribute assets. If there
  are numerous owners of an item or property, they
  can pick who will take over if they want their
  asset managed by someone else.

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The Possession of Assets

• The speed and cost at which they can liquidate
  your business will vary depending on how you
  decide to divide up your assets.

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Expenses Incurred During Liquidation

• Any residual assets are auctioned as part of your
  company's liquidation procedure in Dubai if you
  own 50 of an asset like land or a building, the
  property will be evenly divided among
  shareholders..

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Sale and Purchase of Assets

• Heres what happens during company liquidation
  All inventory, equipment, and tangible assets are
  sold off. Businesses may decide to sell off these
  assets individually or keep them as a single
  package. Next, employees should be paid out their
  wages and gratuity owed. At last, any remaining
  debt is settled. Then its time for business
  closure.

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Contact Us

• Website https//www.spectrumaccounts.com/company-
  liquidations
• Address 305, Hamsah A,
• Ansar Gallery, Al Karama,
• Dubai, United Arab Emirates.
• P.O.Box 379682
• Email id info_at_spectrumaccounts.com
• Mob no 971-50-986-6466