Liquidating limited company ireland

A director of the company then requests the CRO to strike off the company by sending a completed Form H15 to the CRO together with the letter of no objection from the Revenue Commissioners and the full newspaper page where the advertisement appears.It can take a few months for the strike off process to be completed and the company will be asked on two separate occasions whether it still wishes to be struck off.

liquidating limited company ireland-90

In general there are there are two ways a company can be dissolved – by strike-off and by liquidation – with strike-off being more straightforward and relatively cheaper.

This blogpost covers the technical aspects of removing your company from the Register of Companies and with the Revenue Commissioners only.

There will obviously be other considerations when closing down a business, including HR issues, which are outside the scope of this blog. There are two types of strike-off, involuntary and voluntary.

In some cases, it may be necessary for directors to write off any loans owing to them from the company.

To apply for voluntary strike off the company will first need to ensure that all returns have been filed with the CRO and Revenue Commissioners.

The directors should then request a letter of no objection from the Revenue Commissioners.On receipt of this letter, an advertisement needs to be placed in one daily newspaper with nationwide circulation and published not more than four weeks prior to the application for strike off. (See Form H15 (available on ie for details of which newspapers are acceptable.) The advertisement should be worded as follows: XY Limited [formerly EFG Limited], trading as Z, [and formerly having traded as W], having ceased to trade/never traded (as applicable) having its registered office at [123 Main St, Cork ] and formerly having its registered office at [100 Main St, Cork] and its principal place of business at [ 200 Main St, Cork], and having no assets or liabilities, has resolved to notify the Registrar of Companies that the company is not carrying on business and to request the Registrar on that basis to exercise his powers pursuant to section 311 of the Companies Act 1963 to strike the name of the company off the register.Some directors just leave the company “die a death” that is, they fail to file annual returns and allow the Companies Registration Office (CRO) to strike off the company.The CRO can strike a company off the register if it has failed to file just one annual return.The company will get advance warning of the pending strike off and should it choose to ignore the reminders, the company will be struck off.This course of action is not recommended as the consequences of this can be severe including: Even if a company is struck off, creditors can apply to have the company restored and a liquidator appointed through the High Court. A company that has ceases to trade can apply to the Companies Registration Office to strike off the company provided there are no assets or liabilities in the company.

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