The €150 rule for voluntary strike-off

Quick answer

A company can only be voluntarily struck off if its assets are €150 or less and its liabilities are €150 or less. The two are tested separately: the CRO says a company can't net one off against the other. Issued share capital isn't counted as an asset.

Two tests, not one

A balance sheet showing €2,000 in the bank and €2,000 owed to a director nets to zero, but it fails both tests. The CRO is clear that assets and liabilities can't simply be netted off.

What counts as an asset

  • Money in the company's bank account
  • Money owed to the company, including by directors
  • Property, equipment and stock
  • Not issued share capital, which the CRO doesn't count towards the limit

What counts as a liability

  • Money owed to suppliers, landlords and lenders
  • Money owed to Revenue
  • Loans from directors or shareholders

Getting under €150

  • Cash left over: pay it out to the shareholders, taking tax advice first, or settle debts with it. If there's a lot to distribute, a members' voluntary liquidation may be more tax-efficient.
  • Debts: they must be paid in full or formally written off by the creditor. A director owed money by the company can write that loan off in writing.
  • Can't pay? Then a strike-off isn't available. The company needs a creditors' voluntary liquidation.

Anything left in the company when it's dissolved passes to the State, so clear the bank account first. See close the bank account.

Last checked 13 November 2026 against CRO and Revenue guidance. This is general information, not legal advice for your company.