Closing a Cayman Islands company
Article Source：Youxinda Business
Popularity：6962
Published time：2014-12-31 11:55:40
There are two ways a Cayman Islands company can be closed:
>Formal liquidation; or
For below conditions, placing the company into voluntary liquidation and appointing a liquidator to wind up the business is the preferred choice.
>The company has been active;
>With outstanding assets;
>With outstanding liabilities;
If the shareholders and directors are satisfied there are:
>No assets remaining in the company;
>No liabilities remaining in the company;
>Formal liquidation; or
>Striking-off the Companies Register
For below conditions, placing the company into voluntary liquidation and appointing a liquidator to wind up the business is the preferred choice.
>The company has been active;
>With outstanding assets;
>With outstanding liabilities;
>Directors wish to have a proper discharge from their duties.
If the shareholders and directors are satisfied there are:
>No assets remaining in the company;
>No liabilities remaining in the company;
>The company has not been considered an active business.
Shareholders and Directors can request the company be struck from the Register.
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