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Company Liquidation
In Saudi Arabia, a company can be liquidated either voluntarily by the shareholders or involuntarily by a court order. In the voluntary liquidation process, the shareholders must pass a resolution to dissolve the company and wind up its affairs. The shareholders will then appoint a liquidator who will take over the company's assets and liabilities and manage the liquidation process. The liquidator will then undertake a thorough examination of the company's assets and liabilities and determine the best way to liquidate them.
Company Liquidation Process
File for Liquidation
The company must file a request for liquidation with the relevant authorities, such as the Ministry of Commerce and Investment.
Appoint Liquidator
The company must appoint a liquidator to oversee the process of liquidation. This person must be approved by the relevant authorities.
Notification of Creditors
The liquidator must notify all creditors of the company's intention to liquidate
Inventory and Valuation of Assets
The liquidator must inventory and value the company's assets, including its physical assets, real estate, and financial assets.
Payment of Debts
The liquidator must pay the company's debts and distribute any remaining assets to the shareholders, in accordance with the company's articles of association.
Dissolution of the Company
Once all debts have been paid and all assets have been distributed, the company will be dissolved and its registration will be cancelled with the relevant authorities.
Why Choose Us?
Advantages of Company Liquidation in Saudi Arabia
Company liquidation can help businesses resolve outstanding debts and liabilities, allowing them to start anew.
Liquidating a company enables the sale and distribution of assets, which can be used to repay creditors and settle debts.
Company liquidation provides a formal process for closing a business, allowing owners and stakeholders to move on and focus on other ventures