Close the Estonian company fast, easy and cheap

#Liquidation of your company in #Estonia requires certain legal steps but is not complicated as long as the accounting is well kept. In fact, after signing the liquidation decision you hand over the company to the liquidator and you do not have to worry about it anymore - as long as no nasty surprises like debts appear.

In fact, if you have had no activity at all then there is even a more simple liquidation procedure that only takes a few months and one signature. No reports are needed and you can give power of attorney to process the deletion of your company

If a traditional course of dissolution is needed then the first step is for the owner or owners to take a formal decision to liquidate and a liquidator has to be appointed, also the final financial report will be added to the decision. This decision then has to be reflected in the Commercial Register. The next step is to publish the liquidation notice in the portal: https://www.ametlikudteadaanded.ee/ and call for all creditors to come forward with their possible claims. The deadline for this is 4 months and liquidator shall pay the amounts due after the end of that deadline. After that it is possible to prepare the final balance sheet of the private limited company and to distribute the remaining assets. And only after that is it possible to delete the company from the Commercial Register. The final balance sheet and asset distribution plan has to be sent to the Commercial Register as well. Application for deletion can be done after a minimum period of six months of the entry of the liquidation of the private limited company into the Commercial Register. Before deletion, all company bank accounts should be closed as well.

As mentioned in the beginning, the liquidator takes care of all the process after the liquidation decision and final report. Co-operation with your accountant is also needed and if you do not have one we will happily introduce you to one that you can trust.