• Table of Contents

  • Company Liquidation in Estonia? Procedures Closures Companies Estonia
  • Introduction
  • The reasons why a company can be liquidated
  • The different stages of the liquidation of a company in Estonia
  • 1. The liquidation decision
  • 2. The appointment of a liquidator
  • 3. Publication of the liquidation notice
  • 4. Sale of company assets
  • 5. Payment of company debts
  • 6. Closure of the company
  • The advantages of liquidating a company in Estonia
  • The consequences of the liquidation of a company in Estonia
  • Conclusion

Company Liquidation in Estonia? Procedures Closures Companies Estonia

Introduction

Starting a business is an important step for any entrepreneur. However, there may be times when the business does not operate as planned and liquidation is the only option. In Estonia, winding up a business is a relatively simple and quick process. In this article, we will look at the steps you need to take to close a company in Estonia.

The reasons why a company can be liquidated

There are several reasons why a company may be liquidated in Estonia. Some of these reasons are:

• The company failed to meet its business goals
• The company has debts it cannot repay
• The company has management problems
• The company has legal problems

The different stages of the liquidation of a company in Estonia

The liquidation of a company in Estonia takes place in several stages. Here are the steps to follow to close a company in Estonia:

1. The liquidation decision

The first step in the liquidation of a company in Estonia is the liquidation decision. This decision must be made by the shareholders of the company. Shareholders must vote for the liquidation of the company at a general meeting. The decision must be taken by majority vote.

2. The appointment of a liquidator

Once the liquidation decision has been taken, the shareholders must appoint a liquidator. The liquidator is responsible for the liquidation of the company. He must ensure that all of the company's debts are paid off and that all of the company's assets are sold.

3. Publication of the liquidation notice

Once the liquidator has been appointed, he must publish a notice of liquidation in the Estonian business register. This notice must be published in an official journal and must be available to the public for at least one month.

4. Sale of company assets

The liquidator is responsible for the sale of the company's assets. He must sell all the assets of the company to pay off the debts of the company. Assets can be sold at auction or to private buyers.

5. Payment of company debts

Once all of the company's assets have been sold, the liquidator must use the funds to pay off the company's debts. If the funds are not sufficient to repay all of the company's debts, creditors can sue the company's shareholders to collect the unpaid debts.

6. Closure of the company

Once all of the company's debts have been paid off, the liquidator must close the company. He must submit an application to close the company to the Estonian Business Register. Once the application has been approved, the company is officially closed.

The advantages of liquidating a company in Estonia

Liquidating a company in Estonia has several advantages. Here are some of the advantages of liquidating a company in Estonia:

• The liquidation process is relatively simple and quick
• Liquidation costs are generally low
• Liquidation allows shareholders to end a business that is not performing as intended
• Liquidation allows shareholders to focus on other projects

The consequences of the liquidation of a company in Estonia

The liquidation of a company in Estonia may have consequences for the shareholders and employees of the company. Here are some of the consequences of the liquidation of a company in Estonia:

• Shareholders can lose their investment in the company
• Employees can lose their jobs
• Creditors can sue shareholders to collect unpaid debts

Conclusion

Liquidating a company in Estonia is a relatively simple and quick process. The steps to follow to close a company in Estonia are the order of liquidation, the appointment of a liquidator, the publication of the notice of liquidation, the sale of company assets, the payment of company debts and the closing of the society. Although the liquidation of a company can have consequences for the shareholders and the employees of the company, it also has several advantages, such as low liquidation costs and the possibility of concentrating on other projects.