Background

According to Israeli law, every company that is a registered company in Israel, must pay an annual fee and must submit annual financial reports to the Registrar of Companies. This law is applicable not only to active companies, but to non-active companies as well, so long as the company has not been legally dissolved. As long as the company is registered with the Registrar of Companies, the company shall continue to accrue annual fees. Non-payment of these annual fees, and/or insufficient submission of financial reports can result in fines for both the company and/or its management as well as exposure to additional penalties. 

Recently, the Israeli government has taken additional measures to help ensure that payment of annual fees and the submission of financial reports. According to the latest amendment of the law, as of January 1, 2010, additional measures will be taken against companies failing to complete their responsibilities as outlined above, including the inability of majority shareholders and/or directors to register new companies, the inability to execute liens and mortgages, etc.   

The existence of a non-active company is a liability subject to large fines and additional penalties for its shareholders. In order to prevent such sanctions, a company must be legally dissolved. 

U.V.B. 

U.V.B. Business Initiatives Ltd. has been providing business and strategic consulting services to Israeli and non-Israeli companies since 2002. The company specializes in assisting clients with the formation of companies, the dissolution of non-active companies, as well as in executing mergers and acquisitions. U.V.B. was founded by Yuval Berman, a lawyer with over 20 years of experience in the corporate arena.

The turn-key service provided by U.V.B. for the dissolution of a non-active company, includes expediting the process from start to end efficiently and professionally. Additionally, efforts will be made to eliminate accrued fines for non-active companies, resulting in even additional savings for shareholders. 

U.V.B. additionally provides services for the formation of a new company including preparing all of the necessary paper work, having it legally verified and registering the company with the Registrar of Companies.