About Us
Alliance CA is a reputable accounting firm in Dubai, offering comprehensive services to businesses operating in the United Arab Emirates (UAE). With a focus on providing expert financial advice and support, Alliance CA assists clients in navigating the complexities of company formation, tax planning, and compliance in the UAE’s dynamic business landscape. Their team of skilled professionals ensures clients receive tailored solutions to their specific needs, helping them achieve their financial goals efficiently and effectively. Whether it’s establishing a new business entity, managing taxes, or handling company liquidation processes, Alliance CA is dedicated to delivering top-notch services with integrity and expertise.
What is
company
liquidation?
Company liquidation is a critical decision that entails ceasing all business activities and selling off assets. It involves the complete dissolution of the company, erasing its existence from public records. Liquidation helps failing companies relieve themselves from ongoing obligations, reducing strain on the business sector. Additionally, it ensures creditors are reimbursed, and remaining profits are distributed appropriately.
Why is it important for companies to go
through the liquidation process?
When all avenues have been exhausted, companies in Dubai may opt for company liquidation services, leading to the closure of operations. Liquidation offers several benefits, including proper distribution of remaining assets. Initially, assets are sold off to settle outstanding debts, with proceeds distributed among shareholders. Moreover, liquidation provides an opportunity for a fresh start in the industry or disassociation from a specific brand, if desired.
How many
different kinds
of liquidation
are there?
Voluntary Liquidation
When a company goes into voluntary liquidation, the shareholders make the decision to shut down operations because they do not have sufficient funds to pay off the company’s debts. When it comes to the distribution of the money made from the sale of the assets, this form of liquidation places the creditors at the top of the priority list.
Compulsory Liquidation
When a company is forced to dissolve its operations in response to an order from the court, this process is known as compulsory liquidation. In this phase, the assets of the company are divided between the collaborators and creditors in descending order of the priority of their claims.
Why Choose
Alliance CA
The procedure of liquidating a firm in Dubai is one that is both complicated and time-consuming. In the event that it becomes necessary, we at Alliance CA assist our clients in taking the necessary steps to dissolve their companies in Dubai. Accounting, auditing, software consulting, and management are just some of our services. The liquidation services provided by Alliance CA are available for all UAE entities, including free zone firms, LLCs, and offshore companies. These services range from full liquidation to assistance with parts of the process, depending on what the customer requires.
Frequently asked questions
External audits include financial statements audits, operational audits, and compliance audits.
A qualified audit report certifies financial statements reflect a true and fair view. An unqualified audit report states that the financial statements reflect a true and fair view without any limitations.
Businesses registered under the trade-free zones hold trade licenses that require annual financial statements to be audited at the time of renewal.
Yes, external auditors can rely on internal audits.
Internal auditors are hired by the firm as employees to oversee the accounting and auditing services required by a company on a day-to-day basis. External auditors are independent and are hired as consultants.
External auditors double-check the same records that internal auditors work on to ensure quality control of internal audits.