Are the financial obligations of your company beyond your practical reasoning? Have you made up your mind to wind up your business and deregister it? Well, because liquidation can be either voluntary or by verdict (ordered by a court due to insolvency), Reve Consult empathizes with the emotional baggage of the shareholders in both cases. We assist you with your Company Liquidation without any hassles.
Company Liquidation plays a crucial role in corporate restructuring, allowing the business to formally and legally cease operations when it is insolvent, redundant, or no longer viable. Reve Consult offers you Company liquidation services by dissolving the corporate structure, settling the financial obligations, and asset distribution.
Strategic Planning and Advisory
Reve Consult has robust expertise in Company Liquidation advisory. Our professionals employ a step-by-step plan to avoid legal risks and minimize losses. In strategic planning during company liquidation, we assess the financial, managerial, operational, and legal liabilities. Then, we prepare a structured exit strategy. It is in this primary step that we evaluate the financial health and obligations. We consider the role of each stakeholder and manage asset distribution ethically. After deciding on the best approach to liquidation, we advise on asset sales, creditor negotiation, and employee settlements. To avoid further issues, all these steps should align with the Saudi Companies Law and Tax Regulations.
Regulatory Compliance and Documentation
Company liquidation standards should always have proper documentation and should be legally compliant. It is to avoid penalties and legal disputes. The meticulous personnel at Reve Consult are well-versed in the Saudi liquidation laws and compliance protocols. We have a proven track record of handling regulatory files and approvals. We streamline the liquidation process to avoid compliance delays.
Documentation involves preparing, reviewing, and submitting the required files for liquidation to the authorities. In this procedure, Reve Consult drafts the board resolution and shareholder approval. We file a liquidation notice with the MOC and publish it in the official gazette. We take relevant steps to settle Zakat and tax obligations with ZATCA. Finally, we can close the company bank accounts and cancel the business licenses, visas, and contracts, if any.
Asset and Liability Settlement
Before deregistration, the company should effectively clear every existing debt, fairly distribute remaining assets, and satisfy employee obligations. The professionals at Reve Consult provide fair liquidation strategies with their expertise in asset valuation. If there are any existing debts, we employ our strong negotiation skills to negotiate with the creditors and settle the debts and liabilities. We assist you in selling or transferring company assets, including properties and inventories. In addition, we incorporate a structured and strategic approach to employee compensation. The employee settlement includes severance pay and benefits. Finally, with a closing contract, we settle all the legal obligations with suppliers, landlords, and other stakeholders.
Final Deregistration and Certification
Deregistration and Certification is the final step in company liquidation. Reve Consult has a potent expertise in handling deregistration. We leverage our profound insight into tax clearance to prevent possible delays. Deregistration is the process of closing the company with government authorities to eradicate the possibility of further liabilities.
In our deregistration process, we first submit our final liquidation reports to the MOC. Afterward, we obtain our tax clearance certificates from ZATCA. Completing this, we can deregister our company from the Saudi business records. Later, we will receive a final liquidation certificate that confirms your company’s closure. The experts at Reve Consult see to all formalities without any delay.
