WINDING UP A FOREIGN COMPANY

There may be various reasons for the termination of operations. Sometimes termination may be caused by the curtailment of production, or the desire of owners to save and transform the enterprise. Often the need for termination is associated with the desire of the owners to start with a clean slate and get rid of possible claims, while maintaining the partner and client base.

Contact NATLAN to help you wind up your company in 2 ways:

1. Voluntary winding-up
Winding-up procedure is clearly prescribed by the legislation of every state. This procedure is carried out in stages:

• A decision is made to terminate the company’s operations. The persons making the decision must be on the Charter. If the organization operates through a nominee, then the decision should also come from the beneficial owner of the legal entity.
• Before the termination, the company must pay all termination fees as well as obligations to partners, employees, etc.
• Then the company shall seek for the appointment of a liquidator. As a rule, this is a person familiar with the financial situation of the liquidated enterprise. For example, the accountant. Their responsibilities include notifying the registrar of the liquidation, as well as identifying assets and distributing them to shareholders.
• Informing the press about the termination.
• Obtaining a certificate of cancellation. Having gone through all the stages, the liquidator receives a certificate that confirms the completion of the winding-up procedure.

2. Winding-up by de-registration
Payment of state duties and taxes is the main condition for the existence of a company in the country of its registration. Failure to pay the fees will result in the enforced liquidation of the enterprise by deleting it from the register. The exclusion of the company from the State Register does not relieve it of monetary obligations. The liquidated company can be restored within a certain time interval (determined by law). To do this, one need to pay all accrued fees. This method is typical for offshore companies. The procedure is much more complicated in more popular jurisdictions.

Professional lawyer is a qualified specialist capable of solving serious legal problems. It is difficult to successfully run a business such a specialist. They understand the client's needs well and are responsible for the implementation of assigned tasks. If you do not want to gather documents to liquidate the foreign company, it is best to address NATLAN experts for help. Our lawyers have solid experience in this matter and will provide professional assistance.

Our advantages:

• Confidentiality;
• Custom-tailored approach;
• Quality;
• Reasonable pricing policy;
• Complying with legislation.
• No liabilities and obstacles for opening up new business horizons. Contact the professionals.