The Companies and The best Arrangement for the Whole Process

Once the obligations of the company have been discharged, notice of cessation of business may be filed with the Joint Patent and Registration Office of the NBPR and the Tax Administration. You must apply for deletion from the registers using specific forms. The Management Consultant comes up with the best options for the same and that also within the budget.

Consider the cost

Businesses and partnerships may file termination notices free of charge. On the other hand, voluntary dissolution of a limited liability company costs several hundred euros.

All forms of company usually incur costs, such as closing a bank account and transferring money, as well as possible assistance from an accounting firm.

According to him, the costs of a public limited company often go up to around a thousand euros. These include the use of an external liquidator, as well as financial statements and auditing. Only the smallest public limited liability companies are exempt from the audit requirement .

Often, a company is forced to discontinue its annual financial statements and, in addition to this, another financial report.

Will there still be a buyer?

The company encourages us to consider whether to find a buyer or a continuator for our business even before closing. A business name entrepreneur can also do business.

Many times, operations are run down and it is not even determined whether there would be a buye.

A desk box is an option

Due to the cost of closure, limited companies also remain in the drawer. Even then, the entrepreneur remains subject to the obligation to notify, for example, to the Trade Register. In recent years, the NBPR has removed companies that have not filed a trade register notification for ten years.

  • A desk box is the cheapest and easiest solution if you think about returning to entrepreneurship later. It is also a way of reserving the company name for yourself.
  • The business name may be suspended free of charge for an indefinite period or for a specified period.
  • There may also be tax reasons for putting a business in the box.
  • If a limited liability company has a lot of assets, the liquidation becomes a large lump sum for tax purposes. It may make more sense to keep the company up to the minimum and pay its dividend gradually.


Remember these too

Check your withholding taxes. When exiting a business, it is advisable to check the amount of advance taxes for the last financial year. If necessary, they should be appealed to avoid overpayment or underpayment of the withholding tax.

Keep your tax returns. All tax returns must be filed in a timely manner after the business closure. Otherwise, depending on the tax, there may be a delay charge or a tax increase.

  • John Peterson

    Amanda Peterson: Amanda is an economist turned blogger who provides readers with an in-depth look at macroeconomic trends and their impact on businesses.

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