Recently, the State Enterprise Centre of Registers has been implementing an initiative to deregister inactive legal entities (companies) from the Register of Legal Entities. Liquidation proceedings may be initiated against a company (UAB, MB, etc.) when it is more than a year late in submitting annual financial statements or has not provided any data about itself for more than five years. Until now, legal entities could only revoke such status by applying to the court.
On 1st of September 2024, amendments to the Civil Code came into force, according to which, if a company has registered the legal status “initiated liquidation” at the initiative of the State Enterprise Centre of Registers, this status may be revoked by applying not to the court, but directly to the State Enterprise Centre of Registers.
It is possible to apply to the State Enterprise Centre of Registers for the revocation of the legal status “initiated liquidation” within 12 months from the registration of this status. If this is not done within the specified period, the company is liquidated and deregistered from the Register of Legal Entities.
In order to cancel the initiated liquidation, it is first necessary to eliminate the circumstances due to which the liquidation procedure was initiated.
If the liquidation procedure was initiated for a company due to unsubmitted financial statements, it is necessary to submit financial statements and the legal status “initiated liquidation” will be deregistered. If the liquidation of a company was initiated due to data that has not been updated for a long time, for example, the obligation to submit annual financial statements to partnerships or individual enterprises (IĮ), then documents must be submitted to the State Enterprise Centre of Registers for registration of data changes, and in cases where the data has not changed, a notification that the company is carrying out activities.
Contact us and we will help you cancel the liquidation of a company initiated by the State Enterprise Centre of Registers.