When will the share capital be returned?
Only the paid-in share capital can be returned.
The authorized capital and the funds remaining in the bank account can be returned to the owner 4 months after the start of the liquidation process.
FAQ Tag: Company liquidation
What should the liquidation notice look like?
This is intended to be published at www.ametlikudteadaanded.ee
Example:
…………… OÜ (registrikood ……………) (likvideerimisel) avaldab teadaande äriseadustiku (ÄS) § 212 lõike 1 alusel.
Võimalikele võlausaldajatele teatatakse ………….. OÜ (likvideerimisel) likvideerimismenetlusest.
Võlausaldajatel palume esitada oma nõuded nelja kuu jooksul käesoleva teate avaldamisest (ÄS § 212 lg 3)
Liquidation steps?
There exist mandatory steps that must be undertaken in accordance with the law, pertaining to the liquidation of a company.
These steps include the following:
- A liquidation decision must be made by the members of the board. This decision will be legally signed and subsequently submitted to the Estonian business registry through the e-business registry environment. Although this process may also be carried out through a Power of Attorney, utilizing the services of an e-notary, it is recommended that the e-business registry is utilized.
- Notification of the liquidation process must be made available in the Government’s official notices center, which can be accessed at www.ametlikudteadaanded.ee.
- Preparation of the final balance sheet is required as part of the liquidation process.
- A decision to delete the company or any other relevant legal entity from the Estonian business registry must be made in accordance with legal requirements.
By adhering to these mandatory steps, entities can ensure that their liquidation process is carried out in compliance with legal requirements and regulations, ultimately minimizing any potential legal implications or consequences.
How the contact person’s representative gives his consent?
Consent is given in the form of a digital signature in the e-environment of the Estonian Commercial Register.
Before that, the person must be added as a contact person for the company being established or already in the respective environment.
The signature is given in the digital form.
Whether somewhere need to be notified when liquidation has been started?
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.