Liquidation fees refer to the administrative and legal costs involved in officially closing a company operating in Dubai.
Fee Structure:
- Filing fees for liquidation petitions and orders range from AED 1,000-5,000.
- Appointing a licensed liquidator results in additional fees based on a percentage of recovered assets.
- Notary, legal and property disposal expenses further contribute to liquidation costs.
Example:
A consulting firm’s total liquidation bills after a bankruptcy ruling included AED 30,000 to the liquidator recovering assets and settling liabilities.
Significance:
Understanding associated liquidation costs helps businesses in Dubai prepare financially for an organized winding up as per regulations.