When you company is no longer required
What it is
When the company directors deem that the company is no longer required, they can voluntarily dissolve the company, which is known as a strike off.
How to Dissolve your Company
If you decide this is the right move, please take the following steps to ensure the process is followed correctly:
- Close out your business bank account first.
- Make sure you have no outstanding legal proceedings or liquidation
- Order our Company Dissolution service and wait for a DS01 form to arrive in the post. This form should be signed by all the directors and posted back to us
- Notify relevant parties of the dissolution of the company
- Once the dissolution is confirmed, we will write the Board Minutes for you and confirm dissolution of the company
We may ask for proof of ID and address of one or more directors during this process to insure the legitimacy of the dissolution.
Why is it necessary to liquidate and close the bank account prior to filing the dissolution?
If your bank account has any cash available after the dissolution is passed, technically those assets belong to the Government. It could be seized property. Speak with your bank manager and inform them of the situation in advance to make sure there are no issues extracting the money.
I am being threatened with liquidation, or I am in the middle of a lawsuit, can I voluntarily dissolve?
No. You can be personally liable for attempting to dissolve your company under these circumstances. Please seek legal counsel before attempting to dissolve your company in either of these scenarios.
Are there any other reasons that could prevent me from voluntarily dissolving my company?
If you have sold stock or undergone a name change, wait until three months have passed before putting through your dissolution application. This is less likely to raise red flags with Customs House or cause delays.
Who is authorised to dissolve a company?
Any director may prepare the form and work with us to dissolve the company. If your company has more than one director than you need the majority to sign and date the dissolution form. Do I need to tell anybody about the dissolution of my company? Aside from obvious relevant parties like employees, shareholders, suppliers, landlords and the bank, there is no legal obligation to make this news public to anybody else.
Do I need to tell anybody about the dissolution of my company?
Aside from obvious relevant parties like employees, shareholders, suppliers, landlords and the bank, there is no legal obligation to make this news public to anybody else.
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