Voluntary winding up - The self-imposed termination of an or

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Date2/27/2021 11:48:11 PM
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971 55 4145900971 55 4145900
971 55 4145900971 55 4145900
Voluntary liquidation is a process not much different from compulsory or ordered liquidation, except in the decision-making process. When voluntary winding up takes place, you decide beforehand to voluntarily dissolve the company’s assets, ending the organization completely. The process is not that stretched out as long as your business functions in the current scenario aren’t too complicated. The financial obligations, in the form of liabilities or debts, are paid off, the creditors are paid their investment/loan amount and the company ends making the process of voluntary liquidation of the company complete.

The decision for voluntary liquidation of a limited company is made by the board of directors who are the ultimate decision-makers of the business in any situation. When you make a decision as deliberate and sustained as this, there’s a lot that goes behind the thought-process that then finalizes this decision. The voluntary winding up of a company is therefore made up of a very detailed procedure of decisions that are taken when you think the strategically positive thing for the company would be to dissolve the assets. The reasons for this decision are endless and it really depends upon the firm and it’s owners, sometimes it’s the business characteristics, other times they are personal reasons of the company owners and topheads, such as a partner leaving the firm, etc.

For companies that want outside help for voluntary liquidation of company, Quantum Auditing is a firm that can help you achieve that. They’re auditors and accounting people who have been working in the field of finance in the UAE for good decades. Their professional expertise is known in the region to be incredibly objective and efficient according to the affirm they’re working with. This is why their guidance and advice is always helpful and assists firms in increasing and optimizing their functions as best as they can.
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