Tourists can collect their refunds through a special device placed at the departure port – airport, seaport or border port. They must submit:
Compulsory liquidation and voluntary liquidation are the two main types of insolvent company liquidations
Compulsory liquidation occurs when a company fails to fulfill its liabilities, leading creditors to seek court intervention to dissolve the company and recover their money. The court may compel the company to liquidate its assets in order to repay its outstanding debts. In this type of liquidation, the shareholders may choose a liquidator through a resolution or the court may appoint one.
Voluntary liquidation refers to the winding up of a company that is initiated and agreed upon by the shareholders. This decision is made when the company’s owner determines that there is no purpose in continuing the operations of the company. In voluntary liquidation, the shareholders proactively choose to dissolve the company.
In Dubai, there are various documents that need to be submitted for the company liquidation process. The following are the necessary papers required for company liquidation in Dubai: