Closing a company – how to close a company in few steps?

Closing a company - how to close a company in few steps?

Closing a company – how to close a company in few steps?

Closing a company – can be processed in several ways. Regular lawsuits are usually conducted, but when the company is insolvent, then bankruptcy proceedings are needed. However, under certain conditions, the closure of a company can be in a shortened procedure – without liquidation. In the next paragraph, we explain when the closure of a company can be completed in a shortened procedure and how it is done. 

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Formal procedure of business interruption

When the company stops working, it is time for the shareholders to also carry out the formal procedure of closing the company. The fastest and simplest procedure for closing a company is the process of closing without liquidation. However, for such a procedure, the company must meet certain conditions.

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The process of closing a company

The procedure of closing the company without liquidation must be carried out with the help of a notary. The decision must contain:
  • company headquarters of the competent body that made the decision on the termination of the legal entity data, that it is a matter of termination of the legal entity 
  • number of members of the company / legal entity, their names, surnames and residence property division proposal
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