Company Formation and Liquidation Services in UAE

Establishing or closing a business is not an easy task in any country, more so in the UAE, whose regulations and economic environment keep changing. At BDJ Consult we focus on Company Formation and Liquidation Services to ensure smooth transitions for businesses. Do you wish to set up a new company in the UAE or want to close one? Our Company has the most effective team of specialists who can provide you with all the necessary services.

What is Company Formation?

Company incorporation is the process of creating a business firm in accordance with jurisdictional legal statutes and may involve a number of steps; for example, the right type of business structure needs to be selected, the naming of the business firm together with registration with the relevant authorities, and meeting all the regulatory requirements. In the Emirates, the situation is quite different, and due to the unrivaled business environment where one has free zones, mainland, and offshore companies expert help is required.

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Types of Business Structures in UAE

While registering a new company in the UAE, there are different forms of commercial enterprise available for selection. This is because company formation in the UAE takes into account the different advantages and disadvantages of the various types of businesses.

Mainland Company

Mainland companies are registered in the UAE to allow business operations to take place across the UAE without any limitations. This is quite beneficial for businesses that aim at domestic and international markets. In this case of establishing a mainland company, there are regulatory procedures that must be followed, such as the acquisition of a local sponsor, which is one area in which we have the expertise to ensure there is the effectiveness of compliance.

Free Zone Company

Free zone companies are one of the most frequently chosen types of business structures by foreign investors. They allow 100% ownership and come with several advantages such as no taxation and effortless profit repatriation. Each free zone has its standards, regulations, and governing rules. This is why at BDJ Consult, we assist you in determining the appropriate free zone that suits your business industry and goals.

Offshore Company

Offshore companies are those that are permitted to incorporate businesses whose principal activities take place outside the UAE. They are easy to set up and maintain in addition to being discreet and tax efficient, appealing to business investors who wish to carry out overseas activities. As a firm of professionals, we also assist you with the offshore company’s incorporation and all the processes.

Understanding Company Formation in UAE

Steps Involved in Company Formation

1. Business Consultation and Strategy

When we say’ Business Consultation’ it means we take time to know more about your business aims and objectives and recommend the appropriate business structure and location in the UAE; be it free zone, mainland, or offshore Services.

2. Company Name Registration

Another primary step is coming up with a fitting and catchy name for the business. We aid in the process of reserving and registering the company name with the relevant bodies in accordance with the requirements of UAE law.

3. Document Preparation and Submission

All documentation including shareholder agreements, memorandum of associations, and visa applications is catered for by our professionals. We ensure that every internal and external document is filled and forwarded to the necessary offices without delays.

4. Licensing and Permits

Getting the necessary licenses and permission is important if one intends to do business in any part of the country, especially in UAE where a lot of papers are required. Whenever one needs a general trading license, professional license, or industrial license, BDJ Consult can ensure all the papers are in order and all the required legal obligations are fulfilled.

5. Bank Account Opening

We provide support particularly where the business owner is opening a bank account in the UAE for the company they have incorporated, helping to pick the right bank and addressing any other issues that may arise in the handling of financial activities.

Benefits of Company Formation with BDJ Consult

Expert Guidance: We offer advice to answer your query as regards the formation of a company in a way that makes the entire process seamless and more efficient.
Comprehensive Support: We provide an integral service, from the first meeting and consultations, to support after the clients’ newly-formed companies have started operating.
Local Knowledge: We have the relevant skills and knowledge in UAE business regulations which protects you by ensuring that the company is set up properly from the very beginning.

Company Liquidation Services in UAE

What is Company Liquidation?

The act of company liquidation also called winding up, is the closing down of the company and the process of distributing its assets to pay off all the creditors. It is a lengthy and rather harrowing task but at BDJ Consult, we have Company Liquidation Services that make the legal and financial processes of closing a business stress-free.

Types of Company Liquidation

In the UAE, there are two types of company liquidation.

Voluntary Liquidation: Voluntary liquidation occurs when the shareholders of the company vote to cease operations which is often a result of a change in the company’s objectives or revenue-making capacity. In latter scenarios, the company is usually solvent and is able to settle all creditors.
Involuntary Liquidation: If a company is liquidated without the consent of its shareholders, this process is referred to as involuntary liquidation. This is the case when the company is put in a position where it becomes incapable of fulfilling its contractual obligations hence leading to liquidation carried out by a court.

The Company Liquidation Process

1. Board Resolution

The very first step in the liquidation process consists of the shareholders or board of directors of the company passing the resolution to wind up the business. We help in formulating the resolution and also make sure that it is in accordance with UAE law.

2. Appointment of a Liquidator

The liquidator appointed must be a person with the appropriate license who would oversee the process of closing the company down. At BDJ Consult, we provide engaged liquidators for each of the projects so that everything runs smoothly.

6. Deregistration of the Company

Finally, the last stage is the process of removal of the company’s name from all registering authorities including the DED and any free zone authorities, if any. We will complete all the relevant forms so that there will be a smooth transition.

4. Settling Debts and Creditors

Liquidation entails, among other things, payment of any debts and reconciling with creditors. We support the coming up with a rational debt recovery mechanism so that all the dues are paid off prior to the termination of the business.

5. Final Audit and Financial Reporting

A convergence audit is done in order to check that all claims have been satisfied. Our team will assist in the compilation of the last financial accounts and arrange for the competent examination of those by an auditor.

3. Cancellation of Business Licenses

After the commencement of the liquidation process, we assist you in the letter of cancellation of any said business activities licenses or permits issued by any of the UAE bodies. This is a crucial step in the process of liquidating a company and helps to avoid ambiguities when the process is complete.

Why Choose BDJ Consult for Company Liquidation Services?

Expert Liquidation Specialists: When it comes to company liquidation, our licensed experts have vast experience that guarantees ease in the entire process.
Comprehensive Legal and Financial Support: We offer full circle solutions where we handle everything from creditor issues to completing final audits and even deregistration of the company.
Fast and Efficient Process: We aim towards enhancing the very good quality of the rest of the services offered by liquidation by why to ensure that the process of liquidation is as fast as possible. Without breaching the laws of the UAE.

Benefits of Company Formation and Liquidation Services

Tailored Solutions

It is for this reason that at BDJ Consult, we appreciate that no business is the same. This is why we offer company formation and liquidation services which are appropriate for the stage of your business, be it at the beginning, or in shutting down.

Hassle-Free Experience

Since we are well-versed in the laws of the UAE, we relieve you from the stress of dealing with the strenuous legal processes that are over-needed for company registration and its closure. While we will deal with the documents, you oversee your business.

Comprehensive Business Support

Apart from the formation and liquidation of companies, BDJ Consult also provides other useful services such as bookkeeping, tax advisory services, management reports, and payroll services. All your business requirements in the UAE will be catered for under one roof.

Contact Us

Do contact BDJ Consult concerning anything related to your business operations, whether it is starting a company, liquidating one, tax consultation, or others. Directed by experienced professionals anxious to offer you unique business solutions in the UAE, we are here for you. Reach out today to schedule a consultation!

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