Gibraltar Company Dissolution – Closing a Gibraltar Company
If you no longer require your company and wish to have it struck off the company register we can assist with your Gibraltar Company Dissolution.
Irrespective of the reason (ceased trading/never got started/retirement etc.), it is very important to take the necessary steps to dissolve the company correctly, don’t just leave it and walk away.
As a Director you need to comply with regulations as well as protecting yourself from potential risk and fines.
Gibraltar Company Dissolution fees
- Gibraltar Company Registry Search: £80
- Our Service Fee: £500
- Government Statutory filing fee: £37
- Due Diligence per officer: £80
- Courier Fee: £50
Having your Gibraltar Company Struck Off
The Striking off procedure provides an alternative to Voluntary Liquidation, when the Company has not assets or liabilities.
Having your Gibraltar company voluntarily dissolved rather than struck off by Gibraltar Companies House has advantages:
- Maintains the company’s directors and shareholders reputation for future business ventures
- It is a straightforward process compared to company liquidation
- It avoids formal investigation into the conduct of the directors as required in liquidation or receivership
- It avoids the costs of liquidation, fees and expenses.
Requirements to dissolve your company
The company must be:
- In Good Standing with the Registrar
It is no longer acceptable for companies to be naturally struck off at Companies House. The ‘natural strike off’ of a company, takes 3 years of none payment, at which point it is assumed that this company is no longer required and the company is therefore struck from the register. However, due to the penalties associated with the above, within this 3-year period, the company will incur significant arrears. As a company cannot be struck off whilst in debt, these penalties must be paid before striking off can be completed.
- Solvent, a declaration to this effect will have to be signed by the company directors.
- Free from charges or mortgages and/or liabilities and has no assets in Gibraltar or abroad, a declaration to this effect will have to be signed by the company directors.
- Application to Gibraltar Companies House for your company to be Struck Off.
- Pay the statutory filing fee.
- First Notice is given off the intention to Strike Off the Company.
- Striking off Pending, your Company Name is flagged on the Registry’s database.
- Striking Off – after the expiry of three months from the date of the First Notice, the company is struck off unless the Registrar receives an objection.
- Final Notice issued. On the date of this notice, your companies name will be struck off from the Register of Companies and your company is dissolved.
- Publication of Notices. You will receive a copy of the Final Notice of strike off and it will be published in the Seventh Supplement to the Gibraltar Gazette.
Under Section 411 the Registrar will strike off the company when no Annual Returns have been filed for the previous 3 years.
Under Section 412 the Registrar has power to strike off defunct companies from the Register.
It is important to note that striking off a Company is at the Registrar’s discretion and the action could be halted if an objection is received.
In deciding whether to exercise his discretion, the Registrar reserves the right to request further information, evidence or confirmation from all or any of the officers of the Company that the company has no assets or liabilities.