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Company termination

249.00

Product includes:

  • Preparation of liquidation application to the business register
  • Publication of the notice on the government portal
  • State fee
  • Preparation of the final balance sheet
  • Preparation of a notice of deletion from the business register

Description

  • An Estonian company can be liquidated voluntarily or compulsorily, the voluntary decision is taken by the general meeting of the shareholders, while the compulsory liquidation is taken by the court.
  • The whole process of covering the claims of the creditors and the process of dividing the remaining assets to the shareholders takes around six months but the whole process of cancelation from the Estonian Business Registry may take longer depending on the size of the company and the way was liquidated, voluntary or compulsory.
  • The prerequisite for performing the service is the existence of the following identification solutions: Estonian, Latvian, Lithuanian, and Belgium ID-Card/Estonian e-resident card/Estonian and Lithuanian Mobile-ID.
  • Without the above cards, liquidation will be carried on with Power of Attorney or with Public Notary verification. Additional costs will be added.

FAQ

Company liquitation (2)

The Estonian Commercial Code states that it needs to be raised.

If a private limited company has less than half of its share capital or less than the amount of share capital specified in § 136 of this Code or the other minimum amount of share capital provided by the law, the shareholders shall decide:

1) Reduction or increase of share capital

2) The dissolution, merger, division or transformation of a private limited company

3) Submission of a bankruptcy petition

We can help with the terminal liquidation process.

Please take a closer look at our respective service:

Company termination

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Standard Procedure for Non-Payment of Services:

The established protocol for addressing non-payment of services typically involves several steps to ensure a fair resolution. These steps are as follows:

  1. Reminder Letter: A formal communication is sent to the debtor, notifying them of the outstanding payment and requesting immediate settlement. The letter serves as an initial reminder and allows the debtor an opportunity to rectify the situation promptly.
  2. Repeated Reminder Letter: In the event that the debtor fails to respond or settle the outstanding amount after the initial reminder, a subsequent reminder letter is sent as a follow-up measure. This letter reiterates the urgency of payment and emphasizes the potential consequences of continued non-compliance.
  3. SMS Reminder: In addition to written communication, a text message reminder is commonly employed as a supplementary means of notification. This method aims to further prompt the debtor to take immediate action in resolving the unpaid balance.
  4. Register of Debtors: If the debtor remains unresponsive or persistent in non-payment, their details may be recorded in a register of debtors. This record serves as a reference for future actions and ensures transparency within the process.
  5. Court Proceedings: Should the previous steps prove ineffective, legal action may be pursued through court proceedings. This involves initiating a formal lawsuit against the debtor, presenting the case before a judge or magistrate, and seeking a legal judgment in favor of the owed amount.
  6. Bailiff or Debt Collection Company: If necessary, following a court judgment, the services of a bailiff or a reputable debt collection company may be enlisted. These professionals are authorized to take further action to recover the owed funds, which may include seizing assets, enforcing payment plans, or implementing other legal measures.

It is important to note that throughout this process, initial transaction costs incurred as a result of pursuing the outstanding payment will be included. Additionally, as the proceedings progress, state fees and bailiff costs, which are associated with legal action and the involvement of authorized officials, will be added to the outstanding balance.

Tags: Dept, Estonia, EU
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