Guinea-Bissau client case studies in 2023
Australia engineering company exits Guinea-Bissau market
- Our Client is an engineering service provider, which provides services including professional commissioning of buildings and expert project management services to customers based in Guinea-Bissau. The headquarters of the company is based in Australia. Our Client was incorporated back in 2019 and did not commence any business activities since then.
- In April 2021, our Client engaged Healy Consultants Group PLC to assist them with the deregistration of their entity.
- Following settlement of Healy Consultants Group PLC renewal fees, this engagement was allocated to Elmira, our in-house accounting and tax expert based in Singapore, in April 2021.
- Our Client then confirmed that they would like to deregister their business in April 2021 and settled our additional service fees in June 2021.
- Elmira then amended the strategies and milestones for this engagement based on deregistering their Guinea-Bissau entity instead and informed our Client on the procedures required to proceed with the same. She provided the client with an approximate timeline of 3 months to complete the engagement accordingly.
- Elmira secured a written confirmation of company dormancy. In the event that the company was active instead, extra steps would be required to ensure that the company has ceased all business operations, close the bank account of the entity and prepare the financial statements as at the deregistration date.
- Upon confirmation of dormancy, Elmira sent a letter of attorney to our Client to allow our team in Guinea-Bissau to act on behalf of the client and proceed with the deregistration process. The same was signed within the next 2 weeks.
- Thereafter and over the next 3 months, Guinea-Bissau team assisted our Client to i) obtain a tax and social certificate from the Tax Authority and Social Security Institution and ii) submit the deregistration documents to the Registration Office at the Ministry of Justice.
- By the end of September, the Republic of Guinea-Bissau issued the company cancellation registration certificate for our Client. The deregistration was also published on the official bulletin.
- In mid-October 2021, the company was successfully deregistered. Elmira sent a summary of our deregistration obligations, together with the company cancellation registration certificate, to our Client. This concludes our engagement with our Guinea-Bissau Client.
- Healy Consultants Group PLC also asked our Client for an online professional reference.