Guidance

Voluntary Liquidation

A company may proceed with its voluntary liquidation in the following cases:

• when the period of the company’s duration, if any (set out in the articles of association of a company), has expired or when the event, on the occurrence of which (as per the provisions of the articles of association) the company shall be dissolved has occurred. Then the company, at a general meeting, adopts a resolution approving the voluntary liquidation of the company;
• when a company votes by special resolution its voluntary liquidation;
• when a company votes by extraordinary resolution that, due to its obligations, it may not continue its operations and that liquidation is therefore advisable.

The voluntary liquidation date of commencement is considered to be the date of approval of the relevant resolution.

Voluntary liquidation can be made either by the members of the company or by its creditors.

For further information, please refer to the relevant forms as well to the manual of the Insolvency Service.

Upon completion of the voluntary liquidation, the Registrar of Companies will proceed with the relevant publication of strike off the company in the government’s gazette.