Liquidation and dissolution of the company

Liquidation and dissolution of the company

The liquidation of the company comes into play especially if the entrepreneur intends to terminate the business under the name of the company, does no longer need the company for doing business and it is therefore necessary to have this company removed from the Commercial Register. The liquidation of a company is a legal procedure leading to the termination of the business of a business corporation in cases where the company is not over-indebted. In the event that the company is over-indebted, it would be necessary to file an insolvency petition and initiate insolvency proceedings.

Types of company liquidation

• Forced - in the event that the liquidation of the company was ordered by a court for reasons stipulated by law
• Voluntary - occurs if based on the decision of the partners (owners) of the company

The main purpose of the liquidation of a business company is to clarify and settle property relations in the company.

If the company enters into liquidation, its active business activities end and all actions are directed only to the settlement of assets and liabilities of the liquidated company and its subsequent liquidation and termination.

Our consulting company Valian.cz will arrange for you the entire difficult process of liquidation of the company, whether it is a limited liability company, joint stock company or SE and manage the deletion of your company from the Commercial Register. Valian.cz also dissolves non-profit organizations, ie associations, foundations and endowment funds, etc.

We are taking the following steps in the process of liquidation of the company

• Decision of the General Meeting on the entry of the company into liquidation in the form of a notarial deed
• Appointment of a liquidator and his entry in the Commercial Register
• Determination of remuneration to the liquidator
• Preparation of both notices of the company's entry into liquidation and their publication in the Business Gazette
• Compilation of the opening liquidation balance sheet
• Compilation of the inventory of assets of the company in liquidation
• Settlement of property relations, debts and receivables of the liquidated company
• Preparation of the final liquidation financial statements
• Draft of a proposal for the distribution of the liquidation balance
• Completing a list of shareholders to whom the share in the liquidation balance was paid
• Archiving of documents of the liquidated company in the state archive
• Proposal for deletion from the Commercial Register

The whole process of liquidation of the company will take about 6 months and its total price starts at CZK 19,900 without VAT, including all fees.