Liquidations

The liquidation of a Cyprus company can be carried out in the following ways:

  • By court order
  • Under the supervision of the judiciary
  • Voluntary special decision making of the shareholders of the company

The company shall be liquidated by the court order if:

  • The company made a special decision on the liquidation by court order
  • The company didn’t start its activity within one year after the registration or has
    suspended its activity for the whole year
  • The numbers of shareholders decreased to one, in the event of a private company
  • The company is unable to pay its debts
  • The court finds that the liquidation of the company is fair

In addition, there an easier way of liquidation for companies that do not have the assets and liabilities, which is applicable, in the absence of differences between the shareholders. In this case, the Director shall report to the Registrar, that the company stopped its activity and has no assets and liabilities. According to this statement the company will be removed from the registry within three months.

The professional team of Keyforce will undertake the whole procedure of liquidation including:

  • Appointment of the liquidator