Russian Limited Liability Companies (OOO) liquidation
Liquidate Russian LLC (OOO) by yourself? In the past it could have been really possible but now it's just illusion that you can do it yourself, especially if your company has debts. Now the state authorities check every liquidation application extremely thoroughly. Federal Tax Service can decline any liquidation application at any stage of this complex process even if they find minor mistakes.
Ackermann Bellmer law firm specialists can assist in removing any and all obstacles as it has wealth of experience in learning all the pitfalls of liquidation of organizations. Confidential conversation at the start will enable the client to make a clear choice in favor of the safest and least problematic way to liquidate those of your legal entities that became useless.
Read more about how to liquidate:
Voluntary liquidation of the legal entity is a formal termination of a legal entity without legal succession. Necessary prerequisite conditions for such liquidation are the sufficient amount of the company's assets to pay off all debts and as a rule the passage of a tax audit of the last three years of the business. Therefore this is the only way to liquidate those companies that have the legal and financial purity of its business, do not have creditors to whom the debt can not be repaid, and are able to make a tax audit.
Change of Membership and Director.
Any legal entity can change Chief Executive Officer (General Director) and Member(s) to another (nominal) person(s) to ensure that the responsibility for the further business activities of the company, including the delivery of financial and tax reporting lies on another person(s).
Alternative “liquidation” of the organization by means of merger.
Such merger of the company shall cause the transfer of all its rights and obligations to a successor organization. A “nominal” legal entity will be used for such merger. This way is suitable for almost any company, including companies with debts and the companies in the process of a tax audit.
Liquidation by means of bankruptcy.
Liquidation of the legal entity by bankruptcy is the only legal way, without succession, to stop the business of the company with debts, but in this case tax audit will be required, that’s why this way is not recommended to companies which need to stop their debt obligations without executing them. It is important to keep in mind that these obligations should arise during normal business activity (if, hopefully, there are no criminal components in the General Director’s activities as specified in the Criminal Code of the Russian Federation).
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