A Members' Voluntary Liquidation (MVL) is a formal process used to wind up a solvent company, freeing up funds and realizing its assets. It is a voluntary process available only to companies that are solvent, meaning they can pay all their debts and liabilities within 12 months of the commencement of the liquidation.

1. Exit Planning:

   • MVLs are often used as a tax-efficient exit strategy for directors and shareholders who want to retire, move on to a new venture, or close a profitable company that has reached the end of its useful life.
   • It allows for the extraction of profits in a tax-efficient manner, particularly when a company has retained profits over £25,000.

2. Restructuring and Demerger:

   • MVLs can be used by companies with complex corporate structures to simplify or restructure their business. This is permitted under Section 110 of the Insolvency Act 1986.
   • It can facilitate the demerger or division of a company, distributing shares or assets to individual shareholders or other parts of the business.

3. Closing Down a Company:

• MVLs are used to formally close down a company that is no longer needed, ensuring that all assets are distributed to shareholders and all liabilities are settled.

• The company must be solvent and able to pay all its debts, taxes, and contractual obligations within 12 months.
• A licensed Insolvency Practitioner must be appointed to oversee the liquidation process.
• The directors must make a Declaration of Solvency, which is a financial snapshot of the company's ability to meet its liabilities.
• The liquidator will liquidate the company's assets, pay off creditors, and distribute the remaining funds to shareholders.

• MVLs can be highly tax-efficient for shareholders, as distributions are taxed as capital rather than income.
• The process involves the formal closure of the company, ensuring all liabilities are settled and assets are distributed.
• It is a more expensive option than striking off a company, but it provides more control and involvement in the distribution of assets.

Overall, an MVL is a formal and structured process for closing down a solvent company, offering tax efficiency and control over asset distribution.

To store MVL tokens, you have several options:

1. Exchanges' Wallets: You can store your MVL tokens on the wallets provided by exchanges such as Binance Wallet or Trust Wallet. This is a convenient option, but keep in mind that these wallets are "hot wallets" and are always online, which makes them more vulnerable to hacking risks.

2. Cold Wallets: For enhanced security, consider using cold wallets, which are offline and less susceptible to hacking. There are two types of cold wallets:

   • Paper Wallets: These are generated offline and printed with public and private keys in the form of QR codes. You can store them securely and use them for transactions.
   • Hardware Wallets: These are physical devices that store your cryptocurrency keys. They are preferred by many users, especially for large amounts of coins or tokens.

3. Official Coin Wallet: You can also use the official MVL wallet, Clutch, which is designed for participants in the MVL Web 3.0 ecosystem. Clutch is closely integrated with MVL's mobility services and allows users to manage, store, and utilize incentives and rewards earned from their contributions.

4. Third-Party Software Wallets: As MVL is an ERC-20 token, it can be stored on any wallet that supports Ethereum.

To buy MVL tokens, follow these steps:

1. Choose an Exchange: Select a reputable cryptocurrency exchange that supports MVL trading. Ensure the exchange is available in your region and offers the necessary trading pairs.

2. Create an Account: Register an account on the chosen exchange's official website or mobile app. Verify your identity and secure your account as required.

3. Fund Your Account: Deposit fiat currency (e.g., USD, EUR) into your exchange account using methods like credit/debit cards, bank transfers, or other supported options.

4. Buy a Base Cryptocurrency: Purchase a widely traded cryptocurrency like USDT, BTC, ETH, or BNB using your deposited fiat currency. This will be used to buy MVL.

5. Navigate to MVL Market: Find the MVL trading pair (e.g., MVL-USDT, MVL-ETH) on the exchange and select it.

6. Set Transaction Amount: Enter the amount of MVL you want to buy, considering the current market price and your available balance.

7. Confirm Purchase: Review and confirm your purchase details to complete the transaction.

8. Store or Use MVL: Once you have MVL tokens, you can store them in a wallet (hot or cold) for long-term holding, trade them for other cryptocurrencies, or use them for various services that accept MVL.