Why choose Members’ Voluntary Liquidation (“MVL”)?
Closing a company in Malaysia is a big decision, but it doesn’t have to be a complicated and burdensome process. Members’ Voluntary Liquidation (MVL) offers a streamlined approach to wind up a solvent company. Here, we’ll explore why MVL is a popular choice and the circumstances that make it the preferred option for closing a business in Malaysia.
Bye-Bye Debt, Hello Distributions:
If your company is in good shape and has more assets than liabilities, MVL is your go-to option. It’s like a win-win situation where you get to close your company and distribute the remaining assets to shareholders.
No one wants to deal with chaos and confusion when closing a company. MVL brings order and structure to the process. By appointing a licensed liquidator (although not necessary for MVL), you’ll have a professional overseeing everything and making sure all legal requirements are met. It’s like having a capable captain guiding your ship safely to the shore.
Sharing is Caring:
One of the best things about MVL is the fair distribution of assets. You won’t have to worry about individual shareholders scrambling for their share. The liquidator takes care of selling off assets, paying off debts, and making sure everyone gets their piece of the pie.
Peace of Mind and New Beginnings:
MVL offers peace of mind and a fresh start. It’s perfect when you’ve achieved your business goals and want to explore new opportunities or retire. With MVL, you can gracefully exit the stage, knowing that you’ve wrapped things up in a neat and organized manner. It’s like closing one chapter of your life and eagerly turning the page to the next exciting adventure.
Members’ Voluntary Liquidation (MVL) provides a smooth and strategic exit strategy for closing a solvent company in Malaysia. It offers a fair distribution of assets, ensures compliance with legal obligations, potentially provides tax advantages, and allows for a graceful farewell to your business. Consult with professional advisors, including licensed liquidators and tax experts, to make your closure process a breeze.
How can Bizboard help?
As a team of professional accountants, Bizboard work and liaise with various professionals such as legal advisors, financial institutions, government authorities and other related professionals to achieve the best possible solution and highest recovery for all stakeholders throughout the insolvency or restructuring process.
Bizboard acts as an independent adviser to ensure the process is conducted in proper order and in accordance with the relevant laws and regulations. Our highly qualified team has worked throughout various cases in different industries and has an extensive knowledge of business and the impact on stakeholders when a company faces financial distress.
Talk to us to know more.
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