Liquidation of a company: Be ready for 20 challenging tasks

The aim of liquidating a company is to terminate all its activities and delete it from the Companies Register, which is a somewhat superhuman task in the Czech Republic. And the expected amendment to the Business Corporations Act will not change this either.

If you embark on a controlled liquidation on your own, you will have the following 20 tasks:

1. To arm yourself with patience;
2. Dismiss employees;
3. Pass the check of compliance with the employee agenda;
4. Issue a decision on the company dissolution confirmed by a notarial deed;
5. Appoint a liquidator;
6. Publish the liquidation in the Public Register and in the Commercial Gazette;
7. Draw up financial statements and closure of books;
8. Draw up the opening balance sheet;
9. Prepare the list of the company’s assets;
10. Inform all known creditors of the liquidation;
11. Collect the company’s receivables;
12. Value the company’s assets;
13. Request the Regional Archives;
14. Professionally monetize the company’s assets and settle all the company’s debts with regard to tax implications;
15. File a proper tax return;
16. Deregister the company from individual taxes;
17. Ask the tax administrator for consent;
18. Prepare the liquidator’s final report;
19. Provide archiving of documents for 10 to 35 years;
20. File a petition for the deletion of the company from the Companies Register

... All this with the diligence of a professional manager! Without economists, without lawyers, without tax and transaction advisors? Unthinkable.

Do you now understand why there are tens of thousands of inactive companies in the Czech Republic, some of which have been liquidated since the 1990s?

Save your time, money and nerves and entrust all your worries and responsibilities with the liquidation of your company to us.

Read the case study on how we helped solve the liquidation of the company immediately and profitably.