The consequences of being struck off the Register of Companies are stark as the company ceases to have any legal existence.
Despite this, the liability of its members, directors and other officers continues and may be enforced as if the company had not been dissolved.
At dissolution all property and assets are automatically vested in the State. The company officers therefore have no authority to deal with company assets and expose themselves to personal and civil liability should they continue to trade and to the extent that such trading involves the disposal of company assets, the officers expose themselves to criminal liability.
These difficulties are remedied by restoring the company to the register.
You can apply for a company restoration if you are a director or shareholder of the struck off or dissolved company.
To restore your company and continue trading or release an asset we need to bring your company up to date by the payment of outstanding licence fees, penalties, filings, filing fees and the company restoration fee.
Once your company has been restored to the register it is considered to never have been struck off and deemed to have been in continuous existence since incorporation.
For further details of the company restoration process in these countries please visit:
- Cayman Islands
- Hong Kong
- Isle of Man
- Marshall Islands
- St Kitts and Nevis
- USA – Nevada