Do you need to Deregister your Company OR Re-instate a Deregistered Company?

1. The Company or CC remained operational until it was deregistered. (You will require evidence such as bank statements).
2. The Company or CC possesses assets, such as property, and also has obligations, such as debts.
3. The re-instatement is required by a court order.

For the company or close corporation to be considered in business at the time of deregistration, it is necessary to provide adequate documentary evidence in the form of bank statements covering a period of six months prior to and six months following deregistration.

Conducting a comprehensive search to determine the ownership status of real estate properties, whether they are moveable or immovable.
Provide documentary evidence demonstrating that the company or close corporation was actively engaged in business activities at the time of deregistration. This evidence should include bank statements covering a 12-month period that extends beyond the date of deregistration. Additionally, provide evidence of any assets or liabilities, such as property or intellectual property rights, that the company had at the time of deregistration.

Voluntary Deregistration: Your firm can be voluntarily deregistered provided it fulfills the following criteria:

• Terminated Operations: The company has permanently ceased trading and has no plans to resume its activities.
• Zero Assets and Liabilities: The corporation possesses no remaining assets, such as property or equipment, and has no ongoing debts, including loans and taxes.

Automatic Deregistration: The Companies and Intellectual Property Commission (CIPC) has the authority to deregister your company automatically under certain circumstances:

• Non-compliance with yearly Returns: You have neglected to file two or more consecutive yearly returns. (This can result in penalties and fees, even when deregistering.)

Deregistration refers to the process by which a business terminates its registration with CIPC as a company or close corporation. This occurs when the business is no longer operational and has no remaining assets or liabilities.

Liquidation refers to the process by which a business is forced to halt its operations, typically as a result of financial difficulties. If a business possesses assets, liabilities, or both, it may be required to pursue the liquidation process.