First: If the company to be liquidated has not engaged in any activity since its establishment, the procedures to liquidate it are as follows:
1-Shareholders Resolution of liquidating, signed by all shareholders, with attestation of signatures by the Chamber of Commerce, or a bank.
2. The resolution shall be uploaded on-net website of the Ministry of Commerce and Investment.
3. After getting the approval of the resolution by the ministry, it will be published on Aamali newspaper after payment of (1,575) riyals as a fees
Thus, the liquidation is completed, and the company will be deregistered after the publication.
Second: If the company to be liquidated practiced the activity, but later on stopped it. Then, the procedures to liquidate as follows:
1-A resolution of liquidation, signed by all shareholders, with the attestation of signatures from the Chamber of Commerce, or from a bank.
2. A certificate from the Zakat and Income Tax Authority stating that there is no objection about deregistration of the company
3. The resolution and the certificate of Zakat and Income Department shall be uploaded on-net website of the Ministry of Commerce and Investment.
4.. After approval of the resolution by the ministry, it will be published on Aamali newspaper after payment of (1,575) riyals as a fees
Thus, the liquidation is completed, and the company will be deregistered after the publication.
Third: If the company to be liquidated is an active company and its activity is in action, then the procedures to liquidate it is as follows:
1-Letter of request for liquidation of the company attached with the Shareholders Resolution of liquidating, signed by all shareholders, with the attestation of signatures from the Chamber of Commerce, or a bank.
2. Presenting a modern financial Statement, certified by a Chartered Accountant at the date of liquidation.
3. Publish the liquidation resolution and appoint a liquidator.
4. A final liquidation financial account approved by the shareholders and certified by the Chartered Accountant.
5- A certificate from the Zakat and Income Tax Authority stating that there is no objection about deregistration of the company
6-Certificate or detailed outline from the Labor Office stating that there is no employment on the company's guarantee.
7-Publish the end of the liquidation.
Thus, the liquidation is completed, and the company will be deregistered after the publication.
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