Close Cyprus company

argo

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Jun 16, 2024
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I want to close a Cyprus company. I am the owner and use nominee directors.‌
What is the way to close the company?
Inform the nominee director?
Is it better‍ to close it before the end of the year to not incur any extra fees⁠ for next year?

At the time of closing there will be very little assets in⁤ the company. I prefer to not directly take the remaining assets as dividend. I don’t⁣ want there to be any trace to me.
Is there a better way to get⁢ the last remaining funds in my hands?
 
It’s really simple if you don’t actually live in Cyprus. Just withdraw everything and let‌ them close down the company.

You don’t even need to respond to the reminder emails‍ about closure fees, after a while, it all stops on its own and the company⁠ disappears from the Cyprus registry.
 
Unless you're absolutely broke and can't afford a few grand to close the company properly,‌ don't just abandon.

Drain the company's assets. Clear off all debts and liabilities. Zero out‍ all the accounts. If there's any cash left, find a way to spend it. Sometimes⁠ you can negotiate custom fees with your corporate service provider to ensure that they charge⁤ a fee that's exactly what's left in the company. Depends how much money we're talking⁣ about. If it's a meaningful but not suspicious amount, you could invoice it out to⁢ another company you control.

Then proceed with having the company struck off. That's much easier︀ than liquidation.

The reason you should do this is that it leaves a clean trail︁ behind. If you've made money from the company, having a clean record will make future︂ inquiries into your financial history so much easier.
 

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