{"id":563,"date":"2023-10-24T12:58:13","date_gmt":"2023-10-24T12:58:13","guid":{"rendered":"https:\/\/companyincorporationmalta.com\/?p=563"},"modified":"2023-10-24T12:58:15","modified_gmt":"2023-10-24T12:58:15","slug":"liquidation-of-maltese-companies","status":"publish","type":"post","link":"https:\/\/companyincorporationmalta.com\/liquidation-of-maltese-companies\/","title":{"rendered":"Liquidation of Maltese Companies"},"content":{"rendered":"\n<p><strong>Company liquidation in Malta<\/strong>\u00a0falls under Title II of the\u00a0<strong><a href=\"https:\/\/www.companyincorporationmalta.com\/company-act-in-malta\">Company Act<\/a><\/strong>. According to the law, there are three ways in which a\u00a0<strong>Maltese company<\/strong>\u00a0can be\u00a0<strong>wound up<\/strong>\u00a0under specific conditions. The following types of\u00a0<strong>company liquidation procedures<\/strong>\u00a0are accepted by the Maltese legislation:<\/p>\n\n\n\n<ul>\n<li>&#8211;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; voluntary dissolution requested by the shareholders;<\/li>\n\n\n\n<li>&#8211;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; voluntary dissolution requested by the creditors;<\/li>\n\n\n\n<li>&#8211;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; compulsory liquidation ordered by court.<\/li>\n<\/ul>\n\n\n\n<p>Our&nbsp;<strong><a href=\"https:\/\/www.companyincorporationmalta.com\/about-us\">company formation agents in Malta<\/a><\/strong>&nbsp;can offer more information about the provisions of the Company Act with respect to&nbsp;<strong>dissolution procedures<\/strong>.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_65 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title \" >Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #002e5b;color:#002e5b\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #002e5b;color:#002e5b\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/companyincorporationmalta.com\/liquidation-of-maltese-companies\/#reasons-to-liquidate-a-company-in-malta\" title=\"Reasons to liquidate a company in Malta\">Reasons to liquidate a company in Malta<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/companyincorporationmalta.com\/liquidation-of-maltese-companies\/#the-company-liquidation-process-in-malta\" title=\"The company liquidation process in Malta\">The company liquidation process in Malta<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"reasons-to-liquidate-a-company-in-malta\"><\/span><strong>Reasons to liquidate a company in Malta<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>The following causes are legitimate when applying for&nbsp;<strong>company liquidation in Malta<\/strong>:<\/p>\n\n\n\n<ul>\n<li>&#8211;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the shareholders have passed an extraordinary resolution through which the dissolution has been approved;<\/li>\n\n\n\n<li>&#8211;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the company has had no activity during the last two years, case in which a court can dispose the liquidation;<\/li>\n\n\n\n<li>&#8211;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the number of&nbsp;<strong><a href=\"https:\/\/www.companyincorporationmalta.com\/nominee-shareholder-in-malta\">shareholders<\/a><\/strong>&nbsp;is below 2 for six months, case in which the court will order the liquidation;<\/li>\n\n\n\n<li>&#8211;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the number of directors is below 2 for six months.<\/li>\n<\/ul>\n\n\n\n<p>The last two reasons do not apply to single-member companies or to companies changing business forms.<\/p>\n\n\n\n<p>In the case of&nbsp;<strong>creditor\u2019s company dissolution<\/strong>, a company will be considered unable to pay its debts after 24 weeks of failing to pay the outstanding amount.<\/p>\n\n\n\n<p>You can also find out from the video below how you can&nbsp;<strong>liquidate a company in Malta:<\/strong><\/p>\n\n\n\n<figure class=\"wp-block-embed is-type-rich is-provider-embed-handler wp-block-embed-embed-handler wp-embed-aspect-4-3 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"Liquidation of Maltese Companies\" width=\"840\" height=\"630\" src=\"https:\/\/www.youtube.com\/embed\/WD2OhC9wnks?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<h2 class=\"wp-block-heading\"><span class=\"ez-toc-section\" id=\"the-company-liquidation-process-in-malta\"><\/span><strong>The company liquidation process in Malta<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>In the case of&nbsp;<strong>voluntary company liquidation<\/strong>, the shareholders are required to announce the&nbsp;<strong><a href=\"https:\/\/www.companyincorporationmalta.com\/trade-register-in-malta\">Companies Registrar<\/a><\/strong>&nbsp;within 14 days from the decision. The following documents will be filed together with the notification:<\/p>\n\n\n\n<ul>\n<li>&#8211;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the resolution passed by the shareholders;<\/li>\n\n\n\n<li>&#8211;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; a declaration of solvency;<\/li>\n\n\n\n<li>&#8211;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; a declaration with the company\u2019s assets and liabilities;<\/li>\n\n\n\n<li>&#8211;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; a statement with the appointment of the liquidator;<\/li>\n\n\n\n<li>&#8211;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; the company\u2019s audited financial statements.<\/li>\n<\/ul>\n\n\n\n<p>In the case of&nbsp;<strong>compulsory liquidation<\/strong>, the court will order the&nbsp;<strong>dissolution<\/strong>&nbsp;upon the request of the creditors or the members. The court will also appoint the official receiver acting as a liquidator.<\/p>\n\n\n\n<p>In all types of&nbsp;<strong>company dissolution procedures<\/strong>, the official receiver will assess the company\u2019s assets and debts, liquidate the debts and if any amount remains, will distribute among to the shareholders.<\/p>\n\n\n\n<p>For assistance in&nbsp;<strong>company liquidation<\/strong>, you can&nbsp;<strong><a href=\"https:\/\/www.companyincorporationmalta.com\/contact-us\">contact our Maltese representatives<\/a><\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Company liquidation in Malta\u00a0falls under Title II of the\u00a0Company Act. According to the law, there are three ways in which a\u00a0Maltese company\u00a0can be\u00a0wound up\u00a0under specific conditions. The following types of\u00a0company liquidation procedures\u00a0are accepted by the Maltese legislation: Our&nbsp;company formation agents in Malta&nbsp;can offer more information about the provisions of the Company Act with respect to&nbsp;dissolution [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":163,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[309,308,21,307],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Liquidation of Maltese Companies<\/title>\n<meta name=\"description\" content=\"Find here the main ways to liquidate a company in Malta. 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