Liquidation refers to the process by which a company (or part of a company) ceases operations. During this process, the assets and properties of the company are redistributed. 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 process:
- Liquidation done voluntarily or through an agreement, sometimes referred to as a ‘shareholders' liquidation’ wherein the shareholders of the companies decide to cease operations due to low profits, completion of projects, or due to 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’. AAIG team will help you to do the following,
- Cancel the computer card within the immigration department.
- Cancel the company record with the labor department.
- Process Tax clearance with Ministry of Finance.
- Delete the enrolment of the company.