Estonian company liquidation

Options & prices

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I

Via merger

For 1-man companies
  • Consultation and drafting all necessary documents for merger
  • Signing the merger contract on behalf of the shareholder at the notary
  • Payment of state and notary fees
  • Submission of all necessary documents (Incl. final accounting documents) to the Commercial Register and Ametlikud Teadaanded (official publication website) to complete the merger
starting from 975 EUR
(incl. state and notary fees)

II

Standard liquidation

For all types of companies
  • Appointment of our consultant as a liquidator for the period of liquidation

  • Consultation and drafting all necessary documents for liquidation

  • Payment of state and notary fees

  • Submission of all necessary documents (Incl. final accounting documents) to the Commercial Register and Ametlikud Teadaanded (official publication website) to complete the liquidation

1175 EUR
(incl. state and notary fees)

III

Simplified liquidation

For fully dormant companies

  • Consultation and drafting all necessary documents for deletion of the company

  • Submission of documents to the Commercial Register

  • Monitoring the process with the Commercial Register and related necessary authorities i.e. Tax Office and Ametlikud Teadaanded.

  • Relevant updates regarding the deletion

 

450 EUR
(incl. state and notary fees)

IV

Selling your company fully

For all types of companies
  • Sell your company and immediately get rid of your connection to it 
  • After selling, the new buyer will take care of the deletion of the company
  • All accounts and similar activity related accounts must be closed before sales
  • Accounting does not have to be finalised




Starting from 1500 EUR
(price depends on the company profile)
Prices are exclusive of VAT
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Description of the liquidation process

Via merger
Standard liquidation
Simplified liquidation
Selling your company fully

  1. General meeting decision about company liquidation via merger. Done remotely via certified POA

  2. Finalising all accounting

  3. Signing of the merger contract at the notary office (+ notary and state fee)

  4. Preparation of merger balance sheet

  5. Official public notification in the state notification portal (+state fee) Ametlikud Teadaanded

  6. Signing the merger closing contract by the notary office (+notary fee)

  7. Final deletion of the company from the register (+state fee) and submission of final accounting documents

Timeframe: approx. 4 months

  1. General meeting decision about company liquidation and appointment of the liquidator. Done remotely via certified POA

  2. Finalising all accounting and preparing the opening balance sheet of the liquidation.

  3. Submitting missing annual reports, if applicable

  4. Removing members of the board and registering the liquidator (+ notary and state fee)

  5. Submitting the opening balance sheet of the liquidation

  6. Official public notification in the state notification portal (+state fee) Ametlikud Teadaanded

  7. Waiting period of 7 months

  8. Formation of the final balance sheet and the official distribution plan for assets

  9. Final deletion of the company (+state fee) and submission of accounting documents

Timeframe: usually 8+ months

  1. Confirming with the client that the company is fully dormant with no transaction history.

  2. Drafting the relevant application necessary for deletion of the company.

  3. Submitting the relevant application and waiting for Tax Office approval.

  4. 10 days waiting period for feedback from the Tax Office.

  5. Publication published in Ametlikud Teadaanded 3 months.

  6. If all is approved, the company will be deleted.

Timeframe: approx. 4 months

  1. Reviewing the profile of the company
  2. Waiting for all banking and similar accounts to be closed by the client
  3. Drafting necessary Power of Attorneys for the sale and purchase contract 
  4. Receiving the original Power of Attorneys from the client together with notarised passport copies
  5. Selling the company at the notary (+state and notary fee)
  6. Share transfer data takes approx. 1-2 days and board change up to 5 working days to be changed by the registry
  7. After that the client is free from the company and deletion will be taken care by the new owners

Timeframe: minimum 2 weeks

Frequently asked questions about liquidation (FAQ)

  • Standard liquidation process takes at least 7 months, usually 8-9 months.
  • Liquidation via merger takes at least 1,5 months, usually 2-3 months.
  • Simplified liquidation takes approx. 4 months.
  • Selling your company takes generally 1 week after the sales has taken place, however in case of remote sales of shares the timeframe is a lot dependent on the client and how fast they can take care of the remote transfer documents. 
  • Also note that if company is not dormant, accounting and legal preparations might sometimes take significant additional time.

By standard liquidation the owners receive company assets (after taxation).

By liquidation via merger the owner receives both - company assets (after taxation) and potential liabilities if there are any. 

For closing company through standard liquidation you will need a local liquidator. Liquidator is appointed for 7 months and presented on the registry card. Non-residents cannot be the sole liquidators of the company.

Usually, the best way for closing your company is to use a local liquidation service provider that will guide you through the process.

 

It is not mandatory, but it is strongly advised that the accounting is finalised before the liquidation process is started. Therefore, the liquidation process will be quick and clear for the clients and liquidator (if appointed). 

All accounts must be closed, vendors and any outstanding debts paid. 

You will need to provide necessary documents, close all accounts, pay any outstanding debts. 

After selling the company you are no longer connected to it and the new owner will take care of the deletion process. 

    Wisor Group OÜ | Narva mnt 5, 10117 Tallinn, Estonia | + 372 555 90 537
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