If you don’t use the business entity to generate income, or for the purpose of serving a community or group interest, and you find that the annual submissions to CIPC and SARS are simply not worth your time, then you may want to deregister the business. As part of the process, you will liquidate it to ensure that there will not be creditors down the… Read More »WHEN TO CONSIDER BUSINESS LIQUIDATION IN SOUTH AFRICA

People often confuse voluntary liquidation with property, with voluntary sequestration. The latter is when a person who owns property voluntarily surrenders their estate for the purpose of having the assets sold in order to realise enough benefit to the creditors as a means of paying off their debt. Voluntary sequestration with property thus applies to a natural person. Voluntary liquidation with property is when a… Read More »WHAT BUSINESS LIQUIDATION WITH PROPERTY IS ABOUT