Simplifying the final stage of your business.
Liquidation is the process by which a company (or part of a company) is ended; the assets and properties of the company are redistributed to owners after settling all the liabilities of the Company. We refer to liquidation sometimes as winding-up or dissolution, although dissolution technically refers to the last stage of liquidation.
We have two types of liquidations processes:
Liquidation by agreements or voluntary one, sometimes referred to as a ‘shareholders' liquidation’ is when the shareholders of the company decide to cease the operation due to no profitable business or due to accomplishment of delivering its projects or achieving the purposes for which it was created for.
Compulsory liquidation is when the liquidation of the company has been decided by the court due to neglect or non-fulfilment of obligations, sometimes referred to as a ‘creditors' liquidation
Benefits of FME? Or Why Choose FME
Why choose Fusion Middle East to assist in the Liquidation Process?
• From sending a formal request for Liquidation to the Ministry of Commerce to appointing a liquidator, we can assist in the entire process of Liquidation.
• We provide continued assistance for filing paperwork with the necessary licensing authorities to meet the legal requirements.
• Whether you need assistance with outstanding creditors or planning to inform the public about the dissolution, we can provide our guidance in every step.
As one of the most trusted organizations In Qatar, we can assist in ensuring faster and better processing of the Liquidation of the Company.
Formal Application registration for Liquidation
From appointing Liquidators to the announcement of Liquidation, the process is carried out efficiently by the legal experts at Fusion. All the relevant paperwork is assimilated and submitted concisely to speed up the process.
Asset collection and cancellation of permits and Immigration card
The details of the relevant assets are accumulated and sent out for auditing. At the same time, another team sorts the elements of the immigration and employment records of the Company in case there are employees on work permits under the Company's payroll.
Repayment of debt and taxes
The relevant taxes and debts are cleared, followed by repayment of any salary dues or benefits that the employee may have. Finally, the remaining fund is equally distributed among all the shareholders.
The formal dissolution of the Company
After all the payments and formalities are completed, Fusion helps in closing the commercial bank account permanently and formally announce the closure of the company due to Liquidation.
What are the types of services provided?
Our professional team of experts can help you with the following:
• Sending the notice of the liquidator’s appointment to the Registrar (company control section).
• Termination of Board’s power from MEC (Ministry of Economy and Commerce).
• Announce the liquidation in two local newspapers as required by the said law.
• Collect all the assets and pay all the creditors including the cease of employees’ contracts and pay their end of services.
• Cancellation of the computer card at the Ministry of Interior (Immigration Department).
• Cancellation of the company record at the Ministry of Labor.
• Processing Tax clearance in the Ministry of Finance.
• Delete the enrollment of the company.