Estonian company liquidation, price starting from

When you decide to stop the business activities of your Estonian company, the company must be closed by voluntary liquidation. The liquidation of Estonian company takes at least 7 months and must be performed by a liquidator. The period is long, but for the board of the company it is a passive period and our liquidator takes care of everything for you. Our service includes full liquidation executed by professionals.

Included in the price of 550€:

• Full Estonian company liquidation process including all state fees
• Local liquidator
• Drafting legal documents – dissolution resolution, liquidation report, accounting final report
• Preparing the dissolution entry petition and filing it electronically to the Business Register
• Preparing the company deletion entry and filing it electronically to the Business Register
• Deleting the company from Business Register

Other options for closing the company:

We can also offer merging your company. But why to choose merging? Well, it takes only about two months depending on the difficulty of the merger.

Merging the company with the assets of a private person – 498€
Merging the company with another OÜ – 498€

These prices apply when the company has one shareholder who is an e-resident card holder and the company’s annual reports and accounting are up-to-date. If the company has more shareholders or need help with putting the accounting in order, contact us for an offer.

Additional business services available:

• It’s important to remember that for starting the liquidation process, the company must be in good standing – meaning that you have submitted your company’s annual reports for all the previous periods and the accounting for the current year is also up-to-date. If your accountant or service provider has kept everything up-to-date, you can just forward us all the necessary documents, and no extra services will be needed.
• We can also help you to put your accounting and/or annual reports in order. Just contact us for an offer.
• Company needs legal address during liquidation. We can offer legal address with a special price for a liquidation period.

Process flow for liquidating the Estonian company:

• Send us company’s bank statement and balance sheet
• We will send you the price offer for the complete process
• We will prepare the legal documents. You must sign the documents in Business Register – this can be done electronically with the e-Residency card.
• We will do everything else that is required for the process – prepare the liquidation report, file it to Business Register, prepare the final report etc.
• You just have to approve the reports and wait for the process to be completed.

Important information:

• It is very important to stop business activity and settle everything before the liquidation process begins (settling debts and claims, closing all the accounts, pay all taxes, etc.). The liquidation fee does not include any of the settling tasks needed to be done before starting the liquidation.
• Voluntary liquidation takes place in case the company is solvent and able to pay all debts. In case the company is insolvent, bankruptcy process must be initiated by the board instead.

What are the options for closing a company?

When you are the sole owner of the company, the quickest option is to merge the company with your personal assets. As a result of this merger, the company will be removed from the register. When there are multiple partners in the company, voluntary liquidation must be initiated. As a result of the liquidation, the company will be removed from the register. Both options require maintaining up-to-date accounting and compiling annual reports. Merger and liquidation can be carried out online with an e-residency card or through a notary.

What is the difference between a merger and liquidation?

A merger is only available for single-owner companies. The process requires two appointments with an online notary if you are an e-resident, or one appointment with a notary in your home country to sign a power of attorney. The merger will be completed, and the company will be deleted within 2 months. Companies with more than one owner must go through the liquidation process. Liquidation can be initiated online if the partners are e-residents, or in a notary’s office in your home country. Liquidation will be completed, and the company will be deleted within 7 months.

Why does the liquidation process take so long?

The purpose of the liquidation process is to wind up the company’s activities, such as paying debts, collecting money from clients, selling assets, settling disputes, closing bank accounts, ending contracts, etc. Creditors are given a 4-month period to file their claims against the company before it can be deleted from the register. All these steps take time, extending the total liquidation period to 7 months.

Why is it important to properly close the company instead of waiting for it to be deleted from the register?

Closing the company properly is necessary and recommended, even if waiting for it to be deleted may seem tempting. There are three main problems with simply allowing the company to be deleted: If it is later discovered that the company has assets, such as funds in a bank account, the process of recovering those assets would require reinstating the liquidation through the court. This is more expensive and time-consuming than properly liquidating the company from the beginning.

If the company is deleted due to failure to submit reports, it becomes one of the grounds for revoking e-residency. If you ever wish to start a new company in the future, you would need to reapply for e-residency or establish the new company through a notary, which can be costly.

If the company is allowed to be deleted but there are outstanding claims against it, it may lead to legal proceedings and the need to reinstate the liquidation. This, too, is costly and time-consuming.