Liquidation of LLC: Procedure and services for liquidation of LLC in Ukraine

Reasons for liquidating an LLC

There are several reasons for liquidating an LLC. The main ones are:

• Decision of the founders or owner of the company.
• Unprofitability or lack of economic activity.
• Presence of debts and debt obligations.
• Changes in legislation that force the company to cease its activities.

Liquidation procedure for an LLC

The liquidation procedure for an LLC consists of several stages:

1. Making a decision on liquidation — this may be a decision of the founders, a protocol or other legal document.
2. Appointment of a liquidator — a person or company that is involved in the liquidation process.
3. Information on liquidation — filing an application for liquidation with state authorities.
4. Settlement with creditors — repayment of debts to the state and others organizations.
5. Closing accounts and terminating operations on the company’s bank accounts.
6. Forming financial statements and submitting final documents.
7. Final liquidation – after verification and approval of documents, the company is deregistered.

Documents required for liquidation of an LLC

The process of liquidating an LLC requires the collection of a number of important documents. Among them:

• Decision on liquidation of an LLC (protocol or other decision of the founders).
• The LLC liquidation protocol is a document confirming the completion of all liquidation procedures.
• Power of attorney for liquidation of an LLC, if the procedure is carried out by a third party.
• Reports on settlements with creditors and other financial documents.

How is the liquidation of an LLC carried out under the new law?

Since 2024, amendments have been made to the legislation on liquidation of an LLC in Ukraine. This includes new rules and requirements for the liquidation procedure, which significantly reduce the time and costs of closing a company. In particular, it is now possible to liquidate an LLC without an inspection or use express liquidation of an LLC for those who want to close the company quickly and without additional inspections.

The cost of liquidating an LLC

The cost of liquidating an LLC depends on several factors: the presence of debts, the complexity of the procedure, the city and other nuances. The average price for liquidating an LLC in Kyiv, Lviv, Khmelnytskyi or other cities of Ukraine varies. If the company has debts, the liquidation procedure may be more expensive due to the need to resolve financial issues. However, it is possible to carry out liquidation of an LLC cheaply with the help of specialized legal services.

Liquidation services of an LLC

Many companies and law firms provide LLC liquidation services, including express liquidation of an LLC, carrying out all stages of the liquidation procedure, assistance in closing accounts, as well as resolving debt issues. You can contact specialists to find out the cost of LLC liquidation services in different regions of Ukraine: Kyiv, Lviv, Mykolaiv, Kherson, Chernivtsi, and other cities.