Liquidation and voluntary winding up of a Cyprus company | Eltoma Liquidation and voluntary winding up of a Cyprus company | Eltoma

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Click on the links for a full list of Municipal Offices and Religious venues. With respect to the assets of one and the same debtor only a single major insolvency proceeding can be carried out within the EU.

Municipality and Religious Wedding Venues All towns and cities in Cyprus have their own municipal offices where you can acquire your Marriage License and, if you are planning a liquidating a company in cyprus villas ceremony, get married. Contact us now and speak personally to one of our advisors or alternatively email us on This email address is being protected from spambots.

Specifically, this Article explicitly points out the following: According to Article of the Companies Act, the Provisional Liquidator shall control or safe keep flirtation walk song drummer property and things in action which the company is entitled to or appears to be entitled to.

This regulation establishes a common EU frame board regarding insolvency proceedings. Moreover, the shareholders must hold a special meeting to show that the company will be liquidated voluntarily and appoint a liquidator. We decided to go on a viewing trip last month and we were met by Chris at the airport The court issues the liquidation order of the company is unable to pay its debts, if it fails to submit statutory reports or hold statutory meetings or if the company does not commence any business activities within one year after its incorporation.

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After all, it would not be reasonable nor legally correct for the Liquidator to represent both the interests of the winding-up company and those of the Creditors since there is always the risk of conflict of interests at some point.

Yes, this is possible. Moreover, a decision of the meeting of the board of directors of the Company or alternatively a unanimous written resolution of the Board of Directors in lieu of such meeting needs to be passed, where the directors of the Company will report that a Declaration of Solvency has been made and will resolve to convene an extraordinary general meeting of the Company to approve the liquidation of the Company and to appoint a liquidator.

A petition needs to be filed to begin the compulsory liquidation procedure. The directors should prepare and sign a statement of solvency. The company shall, from the commencement of the winding up, cease to carry on its business, except so far as may be required for its beneficial winding up.

Dissolved Company The Company is considered as dissolved on the date of final general meeting and three 3 months after such liquidation date the certificate is issued.

Voluntary Liquidation of a Cyprus Company.

Compulsory liquidation in Cyprus According to law, a company can be liquidated compulsory or voluntarily. Being thousands of miles away this reassurance was very comforting and appreciated. They found out what our requirements were and ensured that we were only shown properties that were within our budget.

What are the duties of the Provisional Liquidator?

Voluntary Liquidation of a Cyprus Company.

Once again a thank you to SOC and a big thank you to Liz. Furthermore, if in the course of winding up it appears that any person who has taken part in the formation or promotion of the company, or any past or present director, manager or liquidator, or any officer of the company has misapplied or retained any money or property of the company or being guilty of any misfeasance or breach of trust in relation to the company, the court may compel him to repay or restore the money or property or any part thereof respectively with interest at such rate as the court thinks just, or to contribute such sum to the assets of the company by way of compensation.

As we are based here in Cyprus, any member of our experienced team is never more than 15 minutes away from any of our managed properties. Some of these are: Any share capital of the company.

The liquidator is required to forward a copy of the order to the Registrar of Companies within 14 days of its being made. We listen and care about what you say - let us work for you and ensure we only show properties that suit your requirements - we will compile a list of suitable properties and you can see for yourself why Sold on Cyprus are the property advisors you should choose.

If at any stage it appears that this is not possible then a voluntary liquidation by shareholders is by operation of law transformed to a voluntary liquidation by the creditors.

Article 3 supports the above mentioned position: The liquidator is required to call final meetings for approval of his or her accounts.

It is imperative that a company that goes under voluntary liquidation must have settled all its tax liabilities. Cyprus is one of Europe's leading destinations for weddings, blessings and honeymoons.

Strike off vs. voluntary liquidation of a Cyprus company > igdolazabal.com & Associates Ltd

Having found the property that we were happy with, Sold On Cyprusalso helped with the legal side of things too. On my second visit Amanda and Chris arranged for me to go to choose all the fixtures and fittings, knowing all the best places to go.

Other information Following either type of liquidation, the court can restore a Company to the register within two years if, for example, further assets are discovered which should be distributed to creditors.

I would like to show my appreciation for the help of the Sold on Cyprus team throughout the purchase of our new house in Pyla, Larnaca.

Department of Registrar of Companies and Official Receiver - Home Page

For more information please email us at info rentvillacyprus. If not, a special or an extraordinary resolution is required, resolving that the company should be voluntarily wound up. Chris arranged all the viewings and drove us everywhere, imparting knowledge all the time, amazing.