Company
Liquidation
Although we never want our client's companies to shut down, we are here to support you if liquidation is necessary. We will ensure we carry out the process with transparency, ease, and effective communication.
Closing a company, a process also known as "Company Liquidation," is a procedure that involves significant legal and financial liabilities which must be followed.
The liquidation process includes the below steps
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Preparation and submission of shareholder resolutions
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Appointment of local resident liquidator who is an Estonian resident and lives in Estonia
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Announcements on the public notice board
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Payment of public notice fee
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Payment of state fee for registering the liquidation
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Liquidation of starting balance sheet and report
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Liquidation of closing balance sheet and report
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Signing various documents and applications on behalf of the company as needed during the process
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Archiving of company accounting documents for a minimum of 7 years (some documents are required to be archived for 7-10 years) and an Estonian resident company or person must be registered as the depository of documents
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Shareholders who do not have valid e-Residency, must either attend an Estonian notary or authorize a local liquidator to submit petitions and documents
The liquidation process usually takes 6–9 months for the company to completely close.
Our fee for liquidation service starts from €950, which includes all steps listed above. Other accounting and tax services fees may be applicable.
Please note we only provide liquidation services to companies who do not have outstanding liabilities to third parties.