Company Dissolution – Voluntary Strike Off
The process whereby a company can apply for its name to be struck off the register of companies and is subsequently dissolved using the voluntary strike off procedure.
A company director can choose to voluntarily strike off a dormant company at any time as long as it has not traded and is solvent.
Dissolving a limited company is the process of getting it struck off the Companies Register.
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 and is unlikely to trade in the future.
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.