Seychelles Company Dissolution – Closing a Seychelles Company
If you no longer require your company and wish to have it struck off the company register we can assist with a Seychelles Company Dissolution.
The proper procedure for discontinuation of an International Business Company is a voluntary winding-up. It is a fairly straightforward process, which involves preparing and filing a declaration of solvency, producing a statement of assets and liabilities, appointing an administrator, publishing announcements the local media, preparing and filing several resolutions and documents with the Registry.
After a voluntary winding-up is properly completed, there is no more recourse for any creditors against the IBC, neither there is any deferred or potential liability for the directors, shareholders and owners of the IBC.
Seychelles Company Dissolution fees
- Company Search – £80
- Our Service fee – £400
- Due Diligence – £80 per director/shareholder
- Disbursements – £120
- Seychelles Agent fee – £400
- Change of Registered Agent and Registered Office – £640
- Renewal fee – £800
- Seychelles Liquidation fee – US$1200 to $2400 depending on dormant or trading company
- 2% Bank transfer fee – for penalties, fees and charges to the Seychelles to cover exchange rate, bank charges and fees
- Seychelles FSA outstanding fees and penalties
- Current Registered Agent Transfer Out fee and any fees outstanding to them.
- Voluntary liquidation takes approximately 1 month. We can assist with the provision of a liquidator. Upon completion of dissolution, you will receive an official Certificate of Dissolution from the Registrar.
- De-registration, whereby a company is voluntarily struck off the registrar. The cost for de-registration is £640 and the process takes between 3 to 6 months.
Whether the company is dissolved or struck-off, it is still required by the Seychelles IBC Act to provide accounting records for the last 7 years, until the date of the last transaction. In the case of de-registration (striking-off), you will not receive an official Certificate of Dissolution from the Registrar.
Having your Seychelles Company Dissolved
Having your Seychelles company voluntarily dissolved rather than struck off by the FSA has the advantage of maintaining the company’s directors and shareholders reputation for future business ventures.
Requirements to dissolve your company
- The shareholders of the company must formally agree to dissolve the company
- The company must not have any outstanding assets or liabilities / A statement of assets and liabilities must be produced
- The company must not be involved in any litigation
- The company must be solvent, a declaration confirming solvency must be filed
- The company must be in Good Standing with the Registrar
- Announcements must be published in the local newspaper
Seychelles IBC Dissolution Process
The process of voluntary liquidation takes approximately 1 month
Upon completion of dissolution the client will receive an official Certificate of Dissolution from the registrar
Another option is de-registration, whereby a company is voluntarily struck off the registrar, the process takes about 3 to 6 months.
Whether the company is dissolved or struck-off, it is still required by the Seychelles IBC Act to provide accounting records for the last 7 years. In the case of de-registration (striking-off), you will not receive an official Certificate of Dissolution from the Registrar.
The dissolution process is started by the Shareholders signing a member’s resolution to dissolve/liquidate the company.
The liquidator shall, upon his appointment and upon the commencement of a winding up / dissolution, proceed to:
- identify all assets of the company
- identify all creditors of and claimants against the company
- pay or provide for payment of, or to discharge, all claims, debts, liabilities and obligations of the company
- distribute any surplus assets of the company to the members in accordance with the Memorandum and Articles
- prepare, or cause to be prepared, a statement of account in respect of the actions and transactions of the liquidator; and
- send a copy of the statement of account to members if so required by the plan of dissolution
The Director signs the plan of dissolution and the members signs the resolution of members, we will prepare these documents for your signature.
We submit the signed plan of dissolution and minutes to the FSA then the notice of dissolution is published in a local newspaper and in the official gazette
The FSA will then issue the Certificate of Dissolution.
Once your company has been dissolved, no creditors will have any recourse against the IBC. There is also no deferred or potential liability for the directors, shareholders and owners of the IBC.