Company Liquidation

Expert Guidance for Seamless Business Closure in the UAE's Premier Financial Jurisdictions

Navigating the complexities of company liquidation within the Dubai International Financial Centre (DIFC) and the Abu Dhabi Global Market (ADGM) requires specialized knowledge and precision. At Crowe UAE, we offer comprehensive liquidation services tailored to the unique regulatory frameworks of these financial free zones, ensuring a smooth and compliant dissolution process.

Why Choose Crowe UAE for Your DIFC & ADGM Liquidation Needs?

• In-Depth Jurisdictional Expertise: Our seasoned professionals possess extensive experience with the legal and procedural nuances specific to both DIFC and ADGM, ensuring adherence to all regulatory requirements.
• End-to-End Liquidation Support: From initial consultations to final deregistration, we manage every facet of the liquidation process, including asset realization, creditor settlements, and statutory filings.
• Regulatory Compliance Assurance: We liaise directly with relevant authorities such as the DIFC Registrar of Companies, DFSA, and ADGM Registration Authority, ensuring all procedures are executed flawlessly.
• Financial & Tax Advisory Integration: Our multidisciplinary team provides strategic advice on corporate tax, VAT deregistration, and Economic Substance Regulations (ESR) compliance, safeguarding your financial interests during liquidation.

DIFC Company Liquidation Process

The liquidation process within DIFC involves several critical steps:

1. Board & Shareholder Resolution: Passing a resolution to initiate voluntary liquidation.
2. Appointment of a DIFC-Approved Liquidator: Engaging a certified liquidator to oversee the process.
3. Public Notification: Publishing a notice of liquidation in two local newspapers (one in Arabic), allowing a 45-day period for creditor claims.
4. Settlement of Obligations: Clearing all outstanding debts, employee dues, and liabilities.
5. Asset Distribution: Liquidating assets and distributing proceeds to creditors and shareholders.
6. Final Reporting & Deregistration: Submitting the final liquidation report and obtaining deregistration from the DIFC Registrar.

ADGM Company Liquidation Process

Liquidating a company in ADGM entails the following steps:

1. Declaration of Solvency: Directors declare the company's ability to meet its debts.
2. Shareholder Resolution: Passing a resolution to commence liquidation.
3. Appointment of an ADGM-Approved Liquidator: Selecting a certified liquidator to manage the process.
4. Public Advertisement: Publishing a liquidation notice in an English-language newspaper for three consecutive days, initiating a 21-day creditor claim period.
5. Clearance Procedures: Canceling visas, closing bank accounts, and obtaining necessary clearances from utilities and other authorities.
6. Final Liquidation Report & Deregistration: Submitting the final report and securing deregistration from the ADGM Registrar.

Comprehensive Liquidation Services Offered by Crowe UAE

• Document Preparation: Drafting all necessary resolutions, declarations, and legal documents.
• Regulatory Filings: Managing submissions to DIFC and ADGM authorities.
• Asset & Liability Management: Overseeing the sale of assets and settlement of liabilities.
• Stakeholder Communication: Handling notifications and communications with creditors and employees.
•        Final Reporting: Preparing and submitting comprehensive liquidation reports.