Liquidation of a Company in the Slovak Republic – step plan in 2024

The most common way to voluntarily dissolve a limited liability company (in Slovak: spoločnosť s ručením obmedzením - s.r.o.) is to enter the company into liquidation, which we can prepare for you within (an unbeatable) 30 minutes from the order. Subsequently, the company ceases to exist on the date of deletion from the Commercial Register.

The liquidation of the SRO represents a process in which the property relations of the dissolving entity are settled out of the court. It is a complex process that takes approximately 5 months from submission and involves a range of legal and economic acts and is quite time-consuming.

Liquidation of a company is a way to end a business of your company, if you have an unnecessary company that is just an administrative burden or if you do not want to pay a new tax license. During the liquidation of the company, it is necessary to follow many rules set by laws and obligations related to accounting and taxes, so it is advisable to entrust this process to experienced professionals.

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Step plan in 2024

  1. Preparation of the financial statement

  • To determine the company's financial status and whether the conditions for liquidation are met, all debts of the company must first be paid.

  • If the company has movable property recorded in the accounting, it is advisable to dispose of it before entering into liquidation, as the liquidator must monetize all the company's assets during liquidation process.

  • In the case of liabilities, it is advisable to pay them off before winding up the company so there are no creditors who could register their claims, which would then prolong the whole process.

  • In the case of uncollectible receivables, it is advisable to write them off.

  1. Convening a general meeting, deciding on the company's entry into liquidation, and appointing a liquidator.

  2. Depositing an advance for liquidation into a notary's escrow

  • Before the liquidator is registered in the Commercial Register, the company (SRO or AS) is obliged to deposit an advance for liquidation of EUR 1,500 into a notary's escrow.

  • The advance for liquidation is used to cover the liquidator's remuneration and expenses.

  • The notary will release the full amount of the advance to the liquidator after the liquidation process is completed.

  1. Registration of the company's liquidation in the Commercial Register of the Slovak Republic

  • Submitting the relevant application for the registration of the company in liquidation in the Commercial Register of the Slovak Republic, along with necessary documentation and a paid e-stamp.

  1. Announcement of the company's entry into liquidation in the Commercial Bulletin

  • The announcement is submitted together with a call for the registration of claims.

  • It is important that the company, which is to be dissolved is with no creditors or that no one registers claims.

  1. Preparation of the basic list of registered claims and the basic list of the company's assets and their deposit in the collection of documents

  • The liquidator prepares the basic list of registered claims according to the status 45 days after the announcement of the company's entry into liquidation in the Commercial Bulletin.

  • The liquidator prepares the basic list of assets according to the status 45 days after the announcement of the company's entry into liquidation.

  • Within 30 days of preparing the basic list of registered claims and the basic list of assets, the liquidator deposits these lists in the collection of documents.

  1. Preparation of the financial statement as of the day before the company's entry into liquidation – this is the financial statement that is being prepared according to point 1

  • The liquidator (or accountant) prepares this financial statement according to the status as of the day before the company's entry into liquidation.

  • The financial statement must be submitted to the tax office within 3 months of the company's entry into liquidation.

  1. Preparation of the financial statement as of the end of liquidation, the final report on the course of liquidation, and the proposal for the distribution of the liquidation balance and the announcement

  • By law, at least 6 months after the announcement of the company's entry into liquidation, it is possible to prepare this financial statement, the final report on the course of liquidation, and the proposal for the distribution of the liquidation balance.

  • The financial statement must be prepared for the period from the day of entry into liquidation to the end of liquidation.

  1. Convening a general meeting and approving the documents according to point 8

  • The liquidator immediately publishes the announcement of the preparation of the financial statement, the final report on the course of liquidation, and the proposal for the distribution of the liquidation balance in the Commercial Bulletin.

  1. De-registration of the company from the Commercial Register of the Slovak Republic

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