If one would want to revive a business that was closed down due to whatever reason, it is actually possible if one would follow the necessary steps to doing that. Now, there are two methods to address two instances of restoring a dissolved company. One reason is if it was forcibly closed down and the other reason would be if the directors themselves agreed to close down the business.
Now, before one would do this, the first thing that one has to make sure is that the old business is already scratched out of Companies House register. This would either be because it was forced out or it was shut down by the directors themselves. The two methods are either an administrative restoration or a court order. Both of these methods will be explained.
Now, the first thing that one can do would be an administrative restoration in the event that the business was forced down. In order to do this method, one would need to get an application form from the Companies House register along with all the necessary requirements. Some of the things needed are an outstanding statement and the other accounts of the business.
Of course, this will include an application fee plus all the fines and penalties that the application is subject to. The number of fees and fines would ultimately depend on the number of outstanding statements of the business and other factors in the record. Also, one can only do this process within six years from when the company was forced to be closed.
If ever a court restoration is needed, then the directors have to apply for one as well. As mentioned above, this is the process being done if ever the directors themselves wanted to close the enterprise and reopen it again. However, it is very crucial to take note that the fees and penalties will be much steeper than the application for administrative restoration mentioned above.
The whole application and requirements are pretty much identical to that of the administrative restoration method. There are necessary requirements that will go along with the application form for verification. Probably the only two differences between the two methods would be that getting a court order takes more effort and time plus there are really high fees that go along.
Now, one may probably be asking himself why old business owners would want to bring back an old company that they decided to close in the first place. One of the most common reasons would be because the industry is already about to take off and their business name was probably already established. The reason for closing could be an internal problem so the shareholders would want to take on new partners.
So for those who want to avail of the option of restoring an old business, these two methods are to be done. Always remember though that only existing former directors and shareholders can do this. As stated above, one should apply for this process within six years of when the business was dissolved so that the Companies House register will see it as valid.
Now, before one would do this, the first thing that one has to make sure is that the old business is already scratched out of Companies House register. This would either be because it was forced out or it was shut down by the directors themselves. The two methods are either an administrative restoration or a court order. Both of these methods will be explained.
Now, the first thing that one can do would be an administrative restoration in the event that the business was forced down. In order to do this method, one would need to get an application form from the Companies House register along with all the necessary requirements. Some of the things needed are an outstanding statement and the other accounts of the business.
Of course, this will include an application fee plus all the fines and penalties that the application is subject to. The number of fees and fines would ultimately depend on the number of outstanding statements of the business and other factors in the record. Also, one can only do this process within six years from when the company was forced to be closed.
If ever a court restoration is needed, then the directors have to apply for one as well. As mentioned above, this is the process being done if ever the directors themselves wanted to close the enterprise and reopen it again. However, it is very crucial to take note that the fees and penalties will be much steeper than the application for administrative restoration mentioned above.
The whole application and requirements are pretty much identical to that of the administrative restoration method. There are necessary requirements that will go along with the application form for verification. Probably the only two differences between the two methods would be that getting a court order takes more effort and time plus there are really high fees that go along.
Now, one may probably be asking himself why old business owners would want to bring back an old company that they decided to close in the first place. One of the most common reasons would be because the industry is already about to take off and their business name was probably already established. The reason for closing could be an internal problem so the shareholders would want to take on new partners.
So for those who want to avail of the option of restoring an old business, these two methods are to be done. Always remember though that only existing former directors and shareholders can do this. As stated above, one should apply for this process within six years of when the business was dissolved so that the Companies House register will see it as valid.
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