It is crucial to recognise when your Estonian company has become a burden instead of being a place to express your passion for business. Liquidating a Company at the right time and using a professional and trustworthy service provider for handling the process can save your health, time, and funds.
From a mental health point of view, you should consider company liquidation if you feel burned out. Owning a business can be challenging, as it not only frees you from micromanagement but also requires you to be present 24/7, which can become overwhelming. No business or work is worth constant physical/mental stress and a decrease in the quality of life.
If it is difficult to keep up with the legal requirements in Estonia, we are here to provide you with full assistance. Thus, in that case, liquidation is not the only solution. Read more about the dissolution of a private limited company.
For other reasons, company liquidation might be the right option to prevent potential further damage. The Wisor Group team can help you through the process and ensure that the company is liquidated as quickly and simply as possible, so you can move on with your life calmly.
Regarding obligations, it is time to dissolve your company when it becomes too difficult to meet the requirements for legal entities in Estonia. This means being constantly non-compliant with Estonian laws, which puts you at risk of fines and being mentioned in public notifications. Legal requirements include having a registered address and submitting annual reports on time, which are easy to comply with if you have a professional service provider in Estonia.
Your Estonian company is at risk of deletion by the Estonian commercial register for any non-compliance (including not having a legal address, not submitting annual reports, etc). Due to the high number of non-compliant (so-called “sleeping”) companies in Estonia, a goal was set by the Estonian authorities to clean the business register of companies not fulfilling legal requirements.
Firstly, you are notified by the court with a ruling stating your non-compliances and the deadline for rectifying them. If you are unable to meet the deadline and do not apply for an extension, the registry promptly deletes your company, usually within a few days after the deadline.
This process underscores the importance of taking any business register notifications and court rulings with full seriousness.
Our team is always ready to assist in ensuring your company's compliance with Estonian laws and regulations. In case of deficiencies, we set a plan to rectify them, ensuring your company becomes law-abiding and fully operational again. Contact us if you need help with company liquidation in Estonia.
