Dissolving an Irish company — voluntary strike-off steps

Dissolving an Irish company through voluntary strike-off requires careful adherence to specific procedures outlined by the Companies Registration Office (CRO). This guide offers a practical overview for founders considering this method.

Understanding Voluntary Strike-Off

Voluntary strike-off is a process by which a company can remove itself from the Companies Registration Office (CRO) register. It is typically pursued when a company has ceased trading and has no outstanding liabilities. This method allows companies to be dissolved in a straightforward, cheap, and quick manner compared to other liquidation processes.

According to the CRO, a voluntary strike-off is only applicable for a company that is solvent, meaning it has enough assets to cover all debts and liabilities. Company's directors must ensure that all obligations, including tax filings with the Revenue, are up to date. Detailed guidelines and procedures are available at cro.ie.

Steps to Strike Off a Company

Here's a simplified step-by-step guide to the voluntary strike-off process:

1. Settle Outstanding Debts and Liabilities:

- Ensure that your company owes nothing to creditors and that all business activities have concluded. If applicable, the company should handle all payroll obligations and file final accounts and returns with Revenue, accessible via revenue.ie.

2. Submit the Form H15:

- Directors must submit a Form H15 to the CRO, applying for a company strike-off. The application needs to include a special resolution and a statement of solvency proving that the company has no outstanding debts.

3. Publish the Proposed Strike-Off:

- After lodging Form H15, the intention to dissolve the company must be published in one daily newspaper that is circulated in Ireland. The notice serves as a formal declaration of intent, and it allows for objections from interested parties.

4. Resolve Any Objections:

- If any creditors or members object to the strike-off, their issues must be addressed satisfactorily. The company cannot be dissolved until these objections are resolved.

5. Await CRO Decision:

- The CRO will determine if the application is in order and whether the company can be struck off the register. If all conditions are met, the CRO will publish a notice of strike-off in the official gazette, finalizing the dissolution.

Importance of Compliance

Adhering to statutory requirements is crucial to avoid complications. Failure to follow proper procedures may result in fines, legal action, or the striking off being disallowed. Founders should meticulously check that no legal or financial obligations are outstanding at the time of filing.

Additionally, directors are advised to maintain all company records for a period of at least six years following dissolution, as per the Companies Act 2014.

FAQ

Q: Can a company with liabilities apply for voluntary strike-off?

A: No, only solvent companies with no outstanding debts or liabilities are eligible for voluntary strike-off according to the CRO rules.

Q: How long does it take to strike off a company?

A: The complete process can vary, but generally, the strike-off can take a few months to finalize post-submission, subject to no objections being raised.

Q: Is a voluntary strike-off reversible?

A: Reinstatement is possible only by court order, under exceptional circumstances, and within 20 years of strike-off. This process can be complex and costly.

For international founders seeking to close their Irish company efficiently, GetIrishCompany.com offers a comprehensive voluntary strike-off pack for just €49. The pack includes all the necessary documentation and support to ensure compliance with the CRO's requirements. Visit GetIrishCompany.com to learn more and get started today.