Company liquidation

Liquidating a company is not one application but a procedure lasting several months, during which the state checks whether the company left debts behind it. The usual reason it drags is therefore not bureaucracy but unclosed books: until the periods are closed and the settlements reconciled, the tax inspection will not finish.

We run the whole procedure – from the members’ decision to the register entry – and tell you before starting how long it will realistically take in your case. If what needs closing is not a company but a sole trader registration, that is a shorter and cheaper procedure.

What the service covers

• an assessment: debts, open periods, unperformed contracts, assets on the balance sheet;
• preparing the members’ decision to wind up and to appoint the liquidation commission;
• filing with the state registrar and publishing the notice to creditors;
• handling creditors’ claims within the statutory period;
• dismissing employees and closing payroll;
• filing the final returns and handling the tax inspection;
• closing bank accounts and cancelling VAT registration;
• drawing up the liquidation balance sheet and entering the cessation in the register.

Why it takes longer than people expect

The period for creditors to submit claims is set by law and cannot be shortened – it anchors the schedule. Then comes the tax inspection, which for a company is effectively unavoidable, and which is exactly where the procedure stalls if the books were kept unevenly.

So we start not with the registrar but with the accounts: closing periods, reconciling with the budget and removing discrepancies before an inspector sees them. Where the books have been neglected, restoration comes first – otherwise the inspection turns into an assessment.

When liquidation is not the best route

Sometimes selling the stake or suspending activity is cheaper and faster than the full procedure. We say so plainly, even when it means less work for us: the options are compared on a consultation, before the first decision is filed.

The step-by-step description of the procedure itself is set out separately – how to close a company in Ukraine.

What we need from you

The members’ decision, access to the documents and the ledger, and a power of attorney. Attending in person is rarely needed: we carry out most steps ourselves.

What it costs

It depends on the state of the books, any debts, employees, assets and VAT status. Liquidating a dormant company and liquidating one with open periods are very different jobs. We quote after assessing the position and fix it in the contract.

Common questions

How long does liquidation take?

Several months – set by the creditors’ claim period and the length of the tax inspection. We give a closer figure after assessing the books: they decide whether the procedure fits the minimum timeline.

Can a company with debts be liquidated?

Voluntary liquidation assumes creditors are paid. Where the assets do not cover them, the route is different – through insolvency, which is a separate path. The assessment tells us straight away which case yours is.

Is the tax inspection compulsory?

For a company it is part of the procedure. Preparing the books is therefore not a formality but the thing that determines both the timeline and the final bill.

What happens if the company is simply abandoned?

It stays on the register, the returns count as unfiled, penalties keep accruing, and liability can fall on the director. A live company on the register also gets in the founders’ way on their next project.

Can the procedure be run remotely?

Mostly yes, under a power of attorney. Attendance in person is needed only where the law expressly requires it.