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 (6)
Yes, this must be done in the so-called official notices, after the liquidation decision has been submitted to the Estonian Business Registry.
Adding it there or instructing to do it is included in the price of our service.
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Estonian notaries have launched an e-notary service so that company owners can visit an Estonian Embassy abroad to transfer shares, instead of at a notary office in Estonia.
You can read more about this on the e-Residency blog here.
You can choose a notary by logging in with your digital ID at notar.ee.
Don’t worry too much about which one to choose, as long as they can conduct the transaction in English and are part of the e-notary scheme. Notary fees are regulated by law and they all provide the same good quality of service.
In the self-service you can:
- Choose a notary and make an appointment
- Initiate transactions and enter transaction details
- Examine contracts before the transaction
- View all your notarial transactions and invoices
You can use e-Notary in:
- all over Estonia and in the following embassies:
- Helsinki
- Stockholm
- Brussels
- London
- Riga
In the self-service you can:
- Start and sell of companies shares
- Certification of copies, printouts, signatures
- Authentication of power of attorney
- Apostille
- etc.
What is the address of the e-notary?
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The liquidators shall immediately publish a notice of the liquidation proceedings of the private limited company in the official publication Ametlikud Teadaanded.
The notice of liquidation must state that the creditors if they exist, must submit their claims within four months of the publication of the notice.
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The fastest timeline for completing the liquidation of a private limited company in Estonia is six months after the entry of the dissolution in the commercial register and publication of the liquidation notice, as well as three months after notifying shareholders of the final balance sheet and asset distribution plan.
It is important to note that this timeline is dependent on all necessary requirements being fulfilled within this timeframe.
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A private limited company can be dissolved by a resolution of the shareholders, a court decision, bankruptcy or other conditions specially specified for that purpose in the articles of association.
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Yes, it’s possible.
A private limited company or public limited company may, as a company being acquired, merge with the assets of a natural person (acquiring natural person) who is the sole shareholder of the company.
The merger is permitted also in case the shares are in the joint ownership of the spouses. The merger of a private limited company or public limited company with the assets of the company’s shareholder who is a natural person is permitted also in case in addition to this shareholder the shares of a private limited company or public limited company being acquired are held exclusively by the company itself.
The assets of a company being acquired, including its obligations, shall transfer to the acquiring company upon merger.
The merger will take place without liquidation proceedings. So it’s faster than conventional liquidation.
The merger process between a natural person and her/his company takes far less than the conventional liquidation – about 2-4 months.
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