Liquidations, Strike Off & Reinstatement of a Company

We have a long and extensive experience in liquidating companies registered under the Laws of the Republic of Cyprus. The term liquidation addresses the process of distributing the company’s assets to settle any outstanding liabilities towards its creditors then distributing the remaining assets to the shareholders before dissolving the company.
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Types of Liquidations

Involuntary Liquidation by the Creditors of the Company

Voluntarily by the Shareholders with the supervision of the Court

Voluntarily by the Shareholders without the supervision of the Court

Timeframe for Liquidations

Due to a varies statutory timeframes, we require approximately 7 to 8 months to liquidate a company provided we receive the Tax clearance certificate early on in the process. Our criteria on which option to follow is based on a variety of economic and safety factors and we therefore conduct

How to Reinstate a company in Cyprus

Reinstate a Company

In the event that a company has been liquidated or struck off the Registrar of Companies (hereinafter referred to as “ROC”), any interested party has the ability though a court order to reinstate a company.

The Process

  1. The accountants prepare and finalise accounts for all pending year that have not been submitted to the ROC.
  2. We prepare and submit a Court Application requesting that the company be reinstated. A hearing is held on a set date and the Judge needs to be satisfied that there are reasonable ground to issue the relevant order.
  3. Once we obtain the reinstatement order it is submitted together with required HE32 and accounts.
  4. The outstanding levy is paid.
  5. The ROC reinstates the company. The Reinstatement fees for strike off are at €500 (in addition to the outstanding amount of the annual levy) and a penalty of €750 where a company is re-instated after the two-year period.

Our Services Cover

Involuntary Liquidation by Creditors
Voluntary liquidation with the supervision of the Court
Voluntary Liquidation without the supervision of the Court
Strike off
Reinstatement of a Company by Shareholders
Reinstatement of Company by Creditors

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