23 January, 2023
Under Section 5 of the Companies Regulations (Fees), 2001, a company that has ceased operations and is in the process of voluntary liquidation is entitled to an exemption from unpaid annual corporate registration fees for the years after it ceased operations if it meets the conditions specified in the regulation (the “Fee Exemption”).
The Fee Exemption encouraged inactive companies to wind themselves up in voluntary liquidation in order to receive the Fee Exemption, which at times could reach thousands of ILS of accumulated annual fees. The Fee Exemption was set to expire on 31.12.2022, but has been extended until 15.2.2023.
The Fee Exemption may be requested by a company in voluntary liquidation per two alternative tracks:
The first alternative requires filing of:
The second alternative requires filing of:
We invite you to consider whether your company meets the requirements of the Fee Exemption and whether your company can commence voluntary liquidation prior to expiration of the Fee Exemption.
We are at your service should you have any questions in this regard.
The content in this communication is provided for informational purposes only and is not intended to be comprehensive. It does not serve to replace professional legal advice required on a case by case basis. The firm does not undertake to update the information in this communication or its recipients about any normative, legal or other changes that may impact the subject matter of this communication.