DISSOLUTION OF LOCAL COMPANY
(THE COMPANIES ACT, CHAPTER 250
OF THE LAWS OF BELIZE)

ADVANTAGES

  • Clear Strike off of a Company from the Register of Companies
  • Avoids further question about property, debts and liabilities of the Company

DOCUMENTS needed to be prepared

  • Notice of Resolution to Wind up
  • Notice of Appointment of Liquidator
  • Special Resolution of commencement of winding up
  • Notice of Meeting of Creditors
  • Notice of General/Final Meeting
  • Return of Final Winding up Meeting

DUTIES of the Liquidator

  • Identify all the assets of the company
  • Identify all the creditors and claimants against the company
  • Provide for the payment of, or to discharge, all claims, liabilities, debts and obligation of the Company
  • Distribute any surplus assets to the members in accordance to the Memorandum & Articles of Association
  • Prepare a statement of accounts in respect of the actions and transactions of the liquidator
  • Send a copy of the statement of accounts to all members if so required by the plan of dissolution
  • The Liquidator should submit to the Registrar a statement that the dissolution is complete

GENERAL INFORMATION

  • International Management Co. Ltd. will be appointed as Liquidator
  • Notice of Resolution to wind up will be published in the Gazette
  • The Dissolution of a company will commence upon submission of the Special Resolution to the Registry
  • Within 7 days of the appointment, the liquidator will file a notice of meeting of creditors of the company, once on the Gazette and once in 2 local newspapers
  • One month before the final meeting, the liquidator is to file notice of general/final meeting in the Gazette
  • One week after the meeting, the liquidator will file a return of meeting with the Registry
  • After the Registrar has been notified that the company has been dissolved the company will be struck off the Register and a Certificate of Dissolution will be distributed
  • Total process takes approximately 2 months

DOCUMENTS you will receive

  • Certificate of Dissolution

FEES

The cost for the Dissolution of a Local Company is US $ 827.50, including tax and fee for ads. This fee does not include penalty fees payable to the Government of Belize to bring the company up to date.

 

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