Members Voluntary Liquidation & Strike-off
There are two main methods of voluntarily dissolving a Cyprus Company or removing it from the records of the Registrar of Companies: The easiest and less costly method is the strike-off method under Section 327 of the Companies Law, Cap.113. The second method is a Members’ Voluntary Winding Up under Sections 268 to 274 of the Companies Law, Cap.113.
Members Voluntary Liquidation
In case of a voluntary liquidation, we can be appointed and act as liquidators through the entire liquidation process. Our liquidation services include:
- Notifying the Registrar of Companies of the shareholders’ decision to wind-up the company and to appoint a liquidator.
- Assisting the Directors in the preparation of the Statement of Assets and Liabilities showing that the company is solvent (i.e. capable to settle all its liabilities within a period of one year).
- Publicising the liquidation in the relevant Government Gazette
- Arranging for the preparation of the audited accounts of the company and file them with the Tax Authorities of Cyprus, to obtain the Tax Clearance Certificate.
- Pay all liabilities, liquidate the assets of the company and distribute any surplus assets to the shareholders.
- Prepare the final accounts, presenting in detail how the winding up has been conducted and how the property of the company was disposed, which will then be notified to the shareholders at a final general meeting.
As an alternative to the member’s voluntary winding-up procedure, we can assist in having the name of the company struck off from the Register of Companies.
- Have the name of the company struck-off from the Register of Companies pursuant to Section 327 of the Companies Law, Cap. 113.
- Prepare all necessary documentation to be submitted by the Director or the Secretary of the company to the Registrar of Companies and the Income Tax Office, stating that the company has ceased operations and has no assets or liabilities, and does not intent to carry out any business in the future
Why choose us?
- We put clients first
- We are an experienced team of multilingual and highly skilled professionals
- We have extensive industry knowledge
- We offer quality, practical solutions with a highly personalised service