Liquidation of LLC in Kyiv, Kharkiv, Ukraine

A limited liability company is one of the most popular legal forms of businesses in Ukraine, the main feature of which is the pooling of the founders' property. LLC members are liable only to the extent of their contributions. This feature must be taken into account when registering and closing an LLC (LLC).

The reasons for the liquidation of an LLC or a company may be different, the most common are:

• owners' decision to cease operations;
• unprofitability, lack of profit;
• actual absence of activity, existence of the organization only "on paper";
• intention of the managers to change the direction of activity;
• debts to creditors;
• violations of the law (it is easier to set up a new legal entity than to continue the work of a troubled company).

Termination of the company's activities is possible

• on a voluntary basis;
• by a court decision;
• by a decision of the competent authorities (fiscal service, Antimonopoly Committee, etc.).

Depending on the reason for the liquidation, the presence of debts to creditors, the state budget, and the available timeframe, entrepreneurs choose the way to close an LLC: on a general basis (by the owner's decision), through bankruptcy, through sale (urgent liquidation of an LLC).

The lawyers of the RegService company, professionals in the field of corporate law, will advise on the best way to get rid of a troubled legal entity and provide legal assistance in liquidation. We provide consultations in person in Kyiv, and work remotely with entrepreneurs from Kharkiv, Odesa, and other cities of Ukraine.

How to close an LLC in the general procedure

Liquidation by the owner's decision is a long (at least two months) but reliable procedure that involves the complete exclusion of the company from the Unified State Register. The main stages:

• Adoption of a decision to terminate activities at a meeting of the founders.
• Publication of an announcement in the media.
• Settlements with creditors and debtors.
• Closing a bank account.
• Deregistration with the tax authorities, funds, passing inspections.
• Submission of documents to the archive.
• Exclusion of the company from the Unified State Register by the state registrar.

To close a company by the decision of the owners, it is necessary to completely eliminate debts. The cost of the service is usually fixed.

Liquidation of an LLC through bankruptcy

The procedure is suitable and the only option for companies with debts. Both the owner and the creditor can initiate bankruptcy. Stages of declaring a company bankrupt:

• Disposal of the debtor's property.
• Rehabilitation (restoration of solvency).
• Declaring a commercial organization bankrupt.
• The process takes from several months to a year or more, and its price is the highest, as it involves court costs and payment for the services of an
• insolvency officer.

Express turnkey liquidation of an LLC

This method is not actually a liquidation, as it does not involve tax audits or the company's exclusion from the Unified State Register. The company is re-registered to another owner and eventually closed. Alternative liquidation is suitable for companies without debts, with a zero balance sheet, and no activity. It takes 3-5 days to complete the sale and purchase of a troubled company.

What type of liquidation should I choose? How much does the service cost? You will get answers to these and other questions by contacting RegService. To order a consultation on the liquidation of an LLC in Kyiv or any other city of Ukraine, leave a request in the feedback form.

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