Closing a limited company

Last updated: 7 November 2017 .

Closing a limited company is a two-step process.

In the first step you notify the decision to dissolve the company. When the creditor deadline of six weeks has expired, you may send a notification of final closing.

Dissolution

As a rule the general meeting decides a dissolution of the company.

There is no absolute time limit for when you need to report the dissolution to the Register of Business Enterprises. According to the Limited Liability Companies Act it must be notified as soon as possible.

When the decision is made, the general meeting has to elect a liquidation board. The liquidation board replaces the current board and general manager. The general meeting can decide the current board to be the liquidation board.

You must enclose

  • minutes from the general meeting showing the decision of dissolution and election of the liquidation board

If new members are elected to the liquidation board, these must confirm that they take on the assignment. They do this by signing the form Coordinated register notification.

Closing

The general meeting makes the decision of final closing of the company. It can be done after the creditor deadline for 6 weeks has expired.

When the decision is made, the general meeting has to approve the liquidation accounts. The liquidation accounts must be audited, even if the company has chosen to waive audit.

You have to enclose

  • minutes from the general meeting which shows the approval of the liquidation accounts.

You report the dissolution and closing of your company by submitting the form coordinated register notification.