The liquidation of a Ltd. is a complicated process thanks to which a company stops operating.
You can leave dealing with the process of liquidation of your company to us, or more specifically the expert parties in the field of accounting and tax who will lead and finish this process in cooperation with you.
What is liquidation?
Liquidation of a company is a form of stopping the companies business activities, or in other words, shutting it down. The other way of terminating a company is bankruptcy. Unlike bankruptcy, liquidation is conducted while the company still as enough financial assets to pay off its financial obligations.
Liquidation is done under the watchful eye of the company’s management, while in the case of bankruptcy; it is conducted by a competent court.
The period of liquidation
During the process of liquidation the company is represented not by its director, but by a liquidation manager, which in reality usually means the same person just with a newly acquired function.
The process and stages of liquidation
The first stage in the process of liquidation consists of:
- Making the decision to liquidate your company
- Naming and registration of the liquidation manager
- Adjudication of the liquidation process
- Permission for liquidation by the Business Registers Agency
- Making of liquidation stamp
- Changing of the information on the specimen signature card
- Making of Initial liquidation report
The second stage of the process of liquidation (after the first 90 days pass) consists of:
- Approval of the Initial liquidation report
- Registration of the Initial liquidation report
The third stage of the process of liquidation (after 120 days) consists of:
Closing of the liquidation process and erasing the company from the Business Registers Agency.
- Finishing the liquidation process- by decision of the company’s founder
- Final liquidation report
- Liquidation manager’s report
- Release of adjudication about the erasing of the company from the Business Registers Agency.
If you require help with the realization of the liquidation process we are available.
The first step is making an appointment in our office.
KONTAKT: Sonja Malko