Seychelles IBC struck-off and dissolution

[OVER]

Last time renewal fee for a Seychelles IBC was paid back in March 2017. The company was established in August, so I assume this payment covered period of August 2017 to August 2018. I haven't got any message from Registered Agent about any renewal fees since, nor I initiate any contact.

I assume the company was struck off the registry after 90 days, so sometime in December 2018 (or later) and after one year dissolved. I have checked the Seychelles Gazette for entire 2019 and 2020, but I haven't found any message about the company. I wonder why?

Any other free way to find out the fate of the company?

 

[wellington]

Pay for it, they can be re-launched.

If it wasn't struck off correctly, you can also be liable.

 

[OVER]

I do not need it, so no way I will pay.

What do you mean wasn't struck off correctly? How liable could I be after 6 years of not paying any renewal fees?

https://www.seychelleslicenses.com/helpie_faq/we-dont-need-our-ibc-anymore-what-are-our-options/

You could simply stop paying the annual fees. Then we will not pay the annual licence fee to government and eventually, usually within some months, the IBC will be struck off the register. One year after strike, off it will be deemed to have been dissolved. We refer to this as “letting the IBC lapse into dissolution”.

https://quijano.com/seychelles-amen...business-companies-ibcs-and-foundations-acts/

Section 275 – Dissolution of a company struck off the Register
– Companies that have been struck-off due to non-compliance with the Act and/or non-renewal and continue to remain struck-off for a period of one (1) year will be deemed dissolved.
– For the company’s restoration, an application must be filed at the Registry within one year after the entity is dissolved.
– This provision will be in force and effect as of the 1st of January, 2022.

276 – Restoration of a company in the Register by the Registrar
According to the Act, companies that are struck-off due to non-compliance with the act may be restored by the Registry except in the case of contraventions of Section 272(1) (a) (ii) & (iii).
The new Act has the same provisions in respect of restoration, but the following stipulations have been added:
The Registry will not restore the name of the company if it is not in compliance with the following obligations:
* The provisions under the new Act in respect of accounting records and the register of members and directors.
* The provisions under the Beneficial Ownership Act 2020 in respect of the register of beneficial owners.
Lastly, an application to restore a struck-off or dissolved company can only be made:
* Within one (1) year after the date when the notice of the struck-off is published in the Gazette.
* Within five (5) years after the date of dissolution according to the formal dissolution procedures.
Existing struck-off companies will be deemed dissolved on the 1st of January, 2022 unless they are restored by the 31st of December 2021.

This law will be in force and effect as of the 1st of January 2022.

 

[OVER]

On a side note...
Official Gazette Republic of Seychelles looks chaotic and messy stuff. On www.gazette.sc they started publishing digital pdfs only from 2020. Before it was a stone age, it seems.

 

[jorge]

You don't need to worry about anything regarding followers. I've done it plenty of times before, just ignored everything, and in the end, the company was dissolved, and I never heard anything more... I think I've had at least 18 companies in the Seychelles that all met the same fate.

Have you checked if the company you used when you registered your firm is still active?

 

[OVER]

How do you know your 18 companies were dissolved? Have you found any message about any company in the Gazzete?
CSP is still active and on the list at fsaseychelles.sc/regulated-entities/fiduciary

 

[Seycy]

If it wasn't struck off correctly, you can also be liable.

Liable for what?

 

[jorge]

How do you know your 18 companies were dissolved? Have you found any message about any company in the Gazzete?
CSP is still active and on the list at fsaseychelles.sc/regulated-entities/fiduciary

I never thought about it, but since it is many years after all I don't care even what is done, but now I have the link I will try to locate some of them to see if they are on the list.

 

[OVER]

I never thought about it, but since it is many years after all I don't care even what is done, but now I have the link I will try to locate some of them to see if they are on the list.

Do you mean Gazette? I have downloaded all available pdfs, so if you PM some names I could do a search in all files at once. I did not find mine, so a bit strange as it had to be struck-off sometime in 2018 or 2019 the latest.