A Step-by-Step Guide to Voluntary Liquidation in the Cayman Islands
Voluntary liquidation is a technique that helps you close a company in an orderly manner in Cayman Islands. It usually arises when the proprietors have collectively agreed to wind it up because they are no longer in need of the business. Many Cayman Islands companies go for this due to the hospitable and streamlined legal framework. This blog will help you understand the basics of voluntary liquidation Cayman. With this knowledge, you will know how it all works. Also, you’ll know about the best option to close your company in an authentic way. What Is Voluntary Liquidation? If you’re a company owner in the Cayman Islands, you can close your company with the voluntary liquidation option. Instead of waiting for the government to forcefully close it or for complex court procedures, the directors and shareholders agree to close down the company's operations. They sell the remaining assets, pay outstanding debts, and distribute the rest to the shareholders. This procedure ...