Striking off is a simpler, lower-cost process for closing a company that has no assets, liabilities, or recent trading activity — the Revenue Commissioners and CRO must both agree. An MVL is used when a company has assets to distribute to shareholders and all debts to repay. If a company has accumulated cash or property, an MVL allows those funds to be extracted in a structured, tax-efficient manner, often attracting Capital Gains Tax treatment rather than income tax. Choosing the wrong route can create tax and legal complications, so professional advice is recommended.
