Voluntary Wind up
Winding up of a company may be required due to a number of reasons including closure of business, loss, bankruptcy, passing away of promoters, etc., The procedure for winding up of a company can be initiated voluntarily by the shareholders or creditors or involuntary by the Registrar of Companies. An Involuntary wind up is not recommended as it can have severe consequences including;
- Any assets of the company becoming the property of the State
- Loss of the protection of limited liability is lost
- Possible disqualification of directors from acting as directors or having any involvement in the management of any company plus the costs of the Director of Corporate Enforcement in taking such an action.
A Voluntary wind up is the cheapest and easiest way to close a company at Shelbourne Accountants provide a proffesional and affordable voluntary wind up service. We help ensure your company meets the statutory declaration, so that CRO can make a full enquiry into the affairs of the company and that they have formed the opinion that the company will be able to pay it’s debts in full within a period not exceeding 12 months from the commencement of the winding up.
Get in touch.
Chartered Certified Accountants
Dublin: +353 1 518 0518
Cork: +353 21 735 5747
Galway: +353 91 399 060