Company Deregistration

Limited company business owners, whose company is defunct and solvent, want to cease thier business must prepare to deregister it. You can't leave the company open and hope a dormant company being deregistered. Non-filing of returns to the Companies Registry may be penalised. The deregistration process normally takes about 9 months to complete.

Any person who knowingly and recklessly gives information to the Companies Registrar that is false or misleading in a material particular is liable to a fine and to imprisonment. As the deregistration process is more technical and affecting company's property. A company should seek advice from its lawyer or certified public accountant on the disposal of its property before making an application.

Who Can Apply

1. the company; or
2. a director or member of the company.

Requirements

1. all the members of the company agree to the deregistration;
2. the company has never commenced business or operation, or has ceased to carry on business or ceased operation for more than 3 months immediately before the application;
3. the company has no outstanding liabilities; and
4. it has obtained a written notice of no objection from the Commissioner of Inland Revenue.

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