Members’ Voluntary Winding-up

Members’ Voluntary Winding-up

Companies can apply for winding-up by its members only if it is solvent (it can settle all of its debits in full). We can assist the clients in winding up their solvent company.  The directors of the company have to issue a certificate of solvency duly signed by a majority of directors (if more than two directors) stating that the company will be able to pay its debts in full within a period not exceeding 12 months from the commencement of the winding up, provided there is no unforeseen complication or unexpected delay in obtaining final tax clearance from the tax authority. Also directors have to convent an extraordinary general meeting to pass the resolution for members’ voluntary winding up, appointing liquidator(s), and to grant liquidator(s) the power to distribute the assets of the company in cash or in “specie”. We provide liquidation service to act as the liquidator for the company and our experience can help customers to reduce their unnecessary cost and time wasted on studying the winding-up procedures.