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01 Law Firm & Legal Services Best Voluntary Liquidation in Dubai
About Our Firm Best Voluntary Liquidation in Dubai 02 Assuming that you are interested in selling a property and want to minimize your expenses, voluntary liquidation is your best option. Learn more about voluntary liquidation, its pros, and cons, who should consider it, what you need to prepare before the sale, and how to execute it correctly. Many homeowners in Dubai are choosing voluntary liquidation as a means of disposing of their assets before they sell them on the market. If one is to sell a property for the very first time, the process can be complicated, therefore some homeowners opt for voluntary liquidation where there are no costs associated with its execution.
03 You may find a number of sources online but you should be wary of the information that you read online as much of this unreliable and inaccurate in its information. To offer you a clear picture, we have broken down the process of voluntary liquidation in the UAE. material is
04 Voluntary Liquidation in Dubai: The Process The process of voluntary liquidation commences with an official request by an interested party to register their intent to purchase the target property. A letter is sent to the shareholder through his lawyer or agent, requesting that they facilitate the registration of an owner’s voluntary liquidation request at the Dubai Land Department.
05 The lawyer or agent must satisfy the requirements required by DLD before a request can be filed. The letter must contain the names of two witnesses who certify that the applicant has the authority to request voluntary liquidation and that his intention is genuine. The written documentation should be accompanied by a statement of account specifying the details on how much money needs to be defrayed and when it is expected to be returned, along with a list of all outstanding debts.
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