Role of the liquidator
Who acts as liquidator and what do they do?
The situation
Under the Companies Law, partners appoint a liquidator to run the winding up: collect assets, pay debts and distribute the balance.
The law
- Companies Law (effective 19 January 2023): One person can own an LLC; financial statements deposited within 6 months of year end
What it means for you
The liquidator can be a partner or a professional. They publish notices, settle creditors, deal with ZATCA and prepare final accounts. The exact steps and creditor notice period should be checked against the current Companies Law text.
What to do
- Choose the liquidator.
- Record the appointment.
- Follow the closure plan.
We can do this for youClose a Saudi company: voluntary liquidation, final Zakat or tax return, VAT deregistration and CR cancellation: SAR 15,000