Message
Law Office Andrejs Arnautovs
Master of Laws (LL.M)
+371 288 58 997
andrei@arnautov.lv
Liquidation of company in Latvia.
• Preparation of documents for the Register of Enterprises;
• Preparation and submission of reports;
• Distribution of assets among owners;
• Comprehensive support throughout the process.
Liquidation of enterprises in Latvia (SIA, AS, Biedrība, ZS and others), professionally and responsibly:
• Preparation of documents for the Register of Enterprises;
• Preparation and submission of reports;
• Distribution of assets among owners;
• Comprehensive support throughout the process.
The process of liquidating a company in case of voluntary decision consists of several steps. Firstly, an internal decision must be made and a notification about losses, if any, must be prepared. Then, an analysis of all creditors and a legal audit of all company contracts and agreements are carried out. In case of discrepancies, debt obligations are paid and issues with creditors and employees are resolved. The public register announces the liquidation and invites creditors to submit their claims. After the deadline for submitting claims, a mark of company liquidation is made and a closing balance sheet is prepared. The overall average duration of company liquidation is 1-3 months, most of which is taken up by the time for accepting creditor claims.