Liquidation of Ukrainian company

Brief step plan of the actions to liquidate Ukrainian company:

1. Decision of the founder to liquidate company.

Under Ukrainian legislation, company may be liquidated in few cases. One of them is decision of the founders in the form of decision of General meeting of company shareholders (founders).

2. Founder appoints the liquidator (or liquidate commission), determines the procedure and term of liquidation according to legislation

The sole person, commission or existing managing body (director) may be entrusted with liquidation obligations. After appointing such liquidator is acting on behalf of the company.

3. The liquidator should take such actions:

3.1. In 3 days after appointing to public information about company liquidation (it should past not less than 2 month from the moment of publication till the file in the documents to state registration);

3.2. To form intermediate liquidation balance. To carry out inventorying and audit. Audit is required in all cases except the situation when annual turnover is less than UAH 4 250,00 (approximately 530$).

3.3. To dismiss the staff;

3.4. To inform the creditors and to carry out payments with creditors;

3.5. To form liquidation balance.

All assets remained after satisfying creditors demands are divided between founders (in this case all remained assets are transferred to the sole founder).

3.6. To close bank accounts;

3.7. To obtain at the state tax inspection certificate on absence of indebtedness (at this stage state tax inspection carries out tax examination. This process is very protracted and responsible period);

3.8. To obtain at all state funds the certificates on absence of indebtedness (pension fund, different social funds);

3.9. To write off all documents to archive and obtain certificate;

3.10. To abolish seal (special procedure).

4. File in all documents and certificates (obtained at previous stages) to state registration office with the purpose of including data about company liquidation to unified state register.

Only after this procedure, the company is officially liquidated.

This step plan is very simplified for general comprehension. In fact, each procedure has a lot of peculiarities and difficulties.

The approximate term for company liquidation is 6-8 months.

The complex legal assistance at all stages of company liquidation includes:

- drafting all needed documents;

- coordination all procedures with state bodies and state tax inspectorate;

- personal participation in process in the form of liquidator;

- other actions needed for successful liquidation.

Please, contact us for liquidation services:

Taras Bachynskyy
phones: +380972184275; +380504317084;