Voluntary Liquidation

When a company is no longer required, it can be wound up. This procedure may be used only if a company is solvent.

PROCEDURE

The procedure is lengthy and complex with the requirement to hold general meetings, place four advertisements, provide advice to the ASIC and the Australian Taxation Office, etc.

If a company has no assets other than cash - or if its assets can be distributed in specie - the Company's dissolution can occur within 5 months. Most of this time is needed to observe statutory delays following the placement of advertisements and the lodging of forms with the ASIC.

Our service is comprehensive. You will only need to sign the paperwork we prepare for you and arrange for one members' meeting and one directors' meeting. As a generality, these meetings are not actually held, but are simply recorded as having been held.