COMPANY FORMATION

On occasion, our clients require Merak Tax Consultant to deregister their business and liquidate their bank account. Company deregistration is the best course of action if the following conditions are met: I the company has ceased operations; ii) it is not and will not be involved in any court proceedings; iii) it has no assets and liabilities; iv) it has no outstanding penalties or offers of compensation, is not indebted to other government departments or has any outstanding tax liabilities; v) it has no outstanding charges in its charge register, and vii) none of the company’s officers have This section provides a summary of corporation deregistration.

1. Company deregistration is the most cost-effective way to dissolve a business (since it removes the requirement to pay ongoing annual company maintenance fees). Merak Tax Consultant suggests this tactic to all customers to avoid harmful and expensive judicial actions;
2. Although procedures for corporation deregistration differ by state, the average engagement lasts between three and six months.
3. Typically, companies are deregistered as follows:

• Closure of company bank account; 
• Lodgment of a company deregistration application with the relevant corporate regulatory authority; 
• If the company deregistration application is approved, a “striking off” notice is sent to the company’s registered office address, as well as to the directors’ residential addresses and relevant tax authorities; 
• A period of time (normally one month) is given in the “striking off” notice to anyone who may wish to object to the company’s deregistration. After the notice period, a notification of the intention to remove the company from the company register is made and published in a government gazette (if applicable); 
• Notification is given that the firm has been completely deregistered.

4. Merak Tax Consultant will oversee the company deregistration process for our customers from start to finish. The following are examples of our support in this regard:

• Submitting company deregistration paperwork to the relevant authorities, together with completed application forms if necessary; 
• Closing the business’s bank account; 
• Following up on the deregistration application and supplying further supporting information if necessary.

The company deregistration fees charged by Merak Tax Consultant vary by jurisdiction based on the intricacy of the procedures. Our fees are published on the website for each jurisdiction. Please contact us for additional details.