Applying for the closure of a limited company does require careful handling of the procedure to ensure that the procedure is correct and in compliance with the relevant laws and regulations. The following are the steps to apply for the closure of a limited company:
- Convene a meeting of the board of directors or shareholders to discuss and decide on the closure of the limited company.
- Formally apply to the Inland Revenue Department for a Notice of No Objection to Deregistration, submit the completed application form IR1263 and relevant documents, and pay the relevant fees.
- The Inland Revenue Department (IRD) will approve the issuance of a Notice of No Objection to Deregistration if it is satisfied that the limited company has no tax matters to follow up and no tax arrears.
- The applicant may apply to the Companies Registry for formal struck off with this notice.
Note: The procedures for applying for closure of a limited company may vary depending on the region and the nature of the company, please read the relevant local regulations and policies carefully before proceeding with the application to ensure that the procedure is correct. If the applicant has any doubts, it is advisable to seek the assistance of a professional tax adviser.
If you have any tax-related questions, please feel free to contact us.
