An association is required to submit its regular returns promptly to the Registrar of Companies and other statutory experts.
Cost savings
Closing a company can help avoid further losses and expenses, such as salaries, rent, and utilities
Improved work-life balance
Closing a company can free up time and resources for the owner(s) to pursue other interests or ventures
Avoidance of legal obligations
Closing a company can help avoid legal obligations, such as filing annual returns and complying with regulations
Protection of personal assets
Closing a company can help protect the owner(s) personal assets from business debts and liabilities