HomeCompany Liquidation Consultation

Consulting for the company liquidation process

Are you seeking a smooth closure of your business in Saudi Arabia?

Closing a business in Saudi Arabia can be a complex process. If you require consultation, it’s advisable to seek guidance from a reputable liquidation company in Saudi Arabia. Company liquidation procedures in Saudi Arabia can significantly impact businesses, involving selling assets, settling debts, and terminating operations. This process can lead to financial losses, impact stakeholders and employees, tarnish credit ratings, and affect the overall business environment. 

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Procedure for Company Liquidation in Saudi Arabia

Types of Company liquidation in KSA: 

  • Voluntary
  • Compulsory

Voluntary: This occurs when shareholders or partners decide to liquidate the company assets upon the occurrence of certain events pursuant to the company’s articles of association.  In the event of a solvent legal entity’s liquidation, the liquidator is chosen by the shareholders in a general meeting. The liquidator has to pay the debts of the company and distribute the remaining assets to the shareholders

Compulsory: This occurs when a company is unable to pay its debts as they fall due, and a court orders the company to be liquidated

The procedure for company liquidation 

Cancellation of a business licence

We offer a comprehensive solution for cancelling your licence in Saudi Arabia. Our services include initiating the licence cancellation request based on unanimous partner decision, preparing an updated financial report for regulatory compliance, guiding you through the official declaration of liquidation, and presenting a certified final account. 

Company Liquidation

We assist in obtaining a vital Certificate of Clearance from the Income and Zakat Department to ensure the proper termination of your company’s commercial registration, settling all financial obligations, fees, and fines. Our expertise ensures a smooth and legally compliant liquidation process for your corporation in Saudi Arabia

Timeline for Company liquidation in Saudi Arabia

The time it takes for a firm to be liquidated depends on whether it’s voluntarily liquidated or under court order. If voluntary, the management or board must provide a declaration within certain days, confirming the business’s ability to pay debts and avoid bankruptcy. 

What makes Helpline Group unique?

Suppose you’re facing the need for company liquidation or the winding up of a company, Helpline Group is your reliable consulting partner for all matters related to company liquidation in Saudi Arabia. With 25 years of experience, our dedicated team is committed to navigating the complexities of liquidation, guiding you towards a fast and accurate process. Contact us today!