Closing a company properly stops the compliance clock. Abandoning it does not. Penalties keep accruing on a company nobody is running.
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TIMELINE
ROUTE
ALTERNATIVE
PRECONDITION
A company cannot be struck off with pending annual filings. Overdue returns are completed first, which is often the largest part of the work.
Liabilities are discharged, assets disposed of and bank accounts formally closed with a certificate from the bank.
The board and shareholders approve closure, and directors execute the indemnity bond and affidavits.
The application is filed with the Registrar, published for objections, and the name is struck off if none are received.
A company you stop using does not stop existing. Annual filing obligations continue, additional fees accrue daily per form, and directors risk disqualification that follows them to every other company they sit on. We regularly see founders return to a company abandoned three years earlier and find the cost of cleaning it up is many times what a proper closure would have cost at the time. If the company has served its purpose, close it deliberately.
No. All overdue annual filings must be completed before a strike off application can be made, which is why closing early costs far less than closing late.
Strike off requires nil assets and liabilities at the time of application. Outstanding items must be settled or the company must go through liquidation instead.
A company that intends to remain inactive for a period, but not close permanently, can apply for dormant status, which reduces the compliance burden without dissolving the company.
Yes, by application to the Tribunal within the permitted period, but it is a contested process and considerably more expensive than closing properly.
It does not automatically clear liabilities that arose while the company was operating, including statutory dues and any personal guarantees given.
Tell us its filing status and we will confirm the route and the work involved.
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