Company Dissolution – Voluntary Strike Off
A company can apply for its name to be struck off the register of companies and be subsequently dissolved by a voluntary strike off procedure.
This process can be used in situations where a solvent company has fulfilled the purpose it was initially set up for, is no longer trading.
Dissolving the company is the simplest and most cost-effective way to close a solvent company down.
The general conditions and requirements for a company to make an application for de-registration/strike off are:
- All the members of the company agree to the de-registration
- The company has not commenced operation or business, or
- has not been in operation or carried on business during the 3 months immediately before the application.
- The company has no outstanding liabilities.
- The company is not a party to any legal proceedings.