What are the procedures for liquidating a corporation?

Good day.

The procedure for the liquidation of a corporation in Ukraine is regulated by many legal acts, in particular, the Civil and Economic Codes of Ukraine, laws of Ukraine "On State Registration of Legal Entities and Individual Entrepreneurs", "On Economic Partnerships", etc.

A legal entity can be liquidated both voluntarily and forcibly.

The company liquidation procedure is a complex process that includes many stages and formalities. First, the company must decide on liquidation and notify all authorities and creditors about it. Next, it must lay off workers and stop production, as well as sell its property and transfer the funds to the owners. In addition, the company must close current accounts, cancel certificates, licenses, permits and undergo an audit by tax authorities. After that, it must transfer all relevant documents for storage in the archive and be finally liquidated by making a corresponding entry in the Unified State Register.