Liquidation of a company is a process during which the company’s activity is terminated and the company is deregistered from the Register of Legal Entities. Companies that do not have any debts can be liquidated. Liquidation is necessary when a legal entity has no activity, has no creditor obligations and its maintenance becomes financially unprofitable. Liquidation can be voluntary, when the decision to terminate the activities of a legal entity is made by the participants of the legal entity. The decision to liquidate a legal entity is made by a qualified majority of the participants of the legal entity. It is determined by the founding documents of the legal entity and cannot be less than 2/3 of the votes of all participants in the meeting.
Participants of legal entities, having made a decision to liquidate a legal entity, must appoint a liquidator. A legal entity being liquidated may only conclude those transactions that are related to the termination of the activities of the legal entity or that are provided for in the decision to liquidate the legal entity.
To ensure that the company liquidation process runs smoothly, contact our company lawyers, who will ensure that everything is done correctly and efficiently, and will take care of the entire liquidation process. In this case, the company liquidation process usually takes 2-3 months.
If the company’s accounting is neglected, for an additional fee we can provide professional accounting services to ensure that the liquidation process runs smoothly and without additional worries.