Does deregistration clear my debt?

No. You cannot deregister a company to hide from creditors. If CIPC finds out you have debts, they will reject the application or creditors can apply to reinstate it.

What happens to the bank account?

You must close the bank account BEFORE deregistration. If you deregister while money is in the account, the bank is legally required to freeze it and send the funds to the State.

Can I use the name again?

Once final deregistered, the name becomes available to the public again after a certain period. You lose the rights to the trademark.

How long does it take?

It is a slow process. CIPC requires a minimum advertisement period to allow creditors to object. It typically takes 3-6 months for final status.

Company Closure

Formal Deregistration Services

Closing a business? Do it correctly. We handle the formal winding down process with CIPC and SARS to ensure no future liabilities haunt you.

Clean Break

Leaving a company "dormant" without filing returns racks up penalties. The only way to stop the administrative burden is to formally deregister it.

Formal application for Voluntary Deregistration
Removal of Directors' liability for future returns
Confirmation of ceased trading status
Deregistration of Income Tax number (via SARS)
Final closure certificate

Risks of Improper Closure

Walking away is not enough.

Accruing Penalties

Every month a company exists, it may be liable for nil tax returns and annual returns. These fines accumulate against the directors personally in some cases.

Identity Fraud

Dormant companies are targets for fraudsters who use them to open accounts or apply for loans. Deregistration removes the entity from the active register.

Finality

It allows you to mentally and legally move on to your next venture without the baggage of an old structure hanging over you.

The Closure Process

We manage the bureaucracy.

Step 1

Tax Clearance

You cannot deregister if you owe SARS money. We check your tax status first.

Step 2

Letter of Request

We draft the formal request letter on your company letterhead, confirming the company has no assets or liabilities.

Step 3

CIPC Lodgement

We submit the deregistration request. CIPC will advertise the closure for objections.

Step 4

Final Closure

After the advertisement period, CIPC changes the status to 'Final Deregistered'.

Questions about Closing Down

Need to close down?

Let's handle it professionally so you can move forward.