Company Strike Off Service
Company Strike Off Service
Striking Off a Company
There may come a time your company has finished serving its business purposes, completed your goals or you just do not want to continue running the company anymore. This is when your offshore company needs to be closed, which is known as a closedown, or company strike-off. The process is to legally end your offshore company’s life and remove its name from the books of the registrar.
Though it is different from jurisdiction to jurisdiction, the company strike off process is generally rather complex and time-consuming, especially without support from experts. There are criteria to meet before striking off; many documents and forms to be filed and submitted; and the whole process with numerous steps and guidelines that can take months.
Involuntary Strike Off
Striking a company off can be the decision of its shareholders and/or directors, but sometimes it is involuntary. In case your company fails to remain in compliance with statutory requirements, to respond to warnings from the registrar or to fulfill annual responsibilities such as filing annual accounts, annual returns, your company will be struck off involuntarily. In such situations, you have three choices: make your company compliant with the requirements; voluntarily strike off your company; or let the government remove it from the register, which means your company is struck off involuntarily. However, the last option is not a good one since it comes with significant legal consequences, which vary from place to place but usually include:
- From the date of being struck off, your offshore company will be removed from the register and cease to exist as a legal entity;
- The banks where your company has accounts will be unwilling to provide financial aids, which puts any future contracts with customers and suppliers at risk;
- When your company has been struck off involuntarily, its directors will possibly be disqualified from acting as a director for a period of up to 15 years;
- In case your company keeps doing business, its shareholders and directors will possibly be personally liable for the company.
Advantages of Our Service
Striking off your company properly keeps you away from the above-mentioned legal consequences, and also will give your creditors and clients a clear announcement of your company’s closure. Our Company Strike Off Service is provided with many advantages, ensuring relief for our clients:
- Being aware of the complicated criteria, requirements, forms, and procedures from the government, our experts always update the latest laws and guidelines from the government, ensuring your company is struck off properly;
- Our experts have gained a great deal of experience from many cases over different offshore jurisdictions. We are capable of handling difficult situations, including objections, in a timely and expeditious manner;
- After being struck off, your offshore company can be restored within a specific period of time. Using our Company Strike Off Service makes it easier for us to assist you in such restoration cases.
With the above-mentioned advantages, our service helps saving you a significant amount of time and reducing the risk of any lawsuits. For any further consultation or request, feel free to Contact Us for free.