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How to end Business Activities in Estonia?
One day you may need to end your business activities in Estonia, whether it’s due to plans not working out or receiving an offer to buy your company, it’s essential to know your options.
Since Estonia doesn’t allow businesses to hibernate or pause, here are the four most common ways to close your Estonian business, each with a step-by-step guide.
1. Liquidation / Dissolution of Your Estonian Company
The most common method to end business activities is voluntary liquidation. This process begins with the consent of the shareholders and the appointment of a liquidator which can be also one of the board members. Of course, the company must be solvent.
Preparation for Liquidation
Before liquidation, stop all business activities and settle all obligations, including:
- Paying taxes
- Settling debts and claims
- Ending contracts
- Closing business bank accounts
If accounting is up to date then the process can start.
Key Steps in Voluntary Liquidation:
- Preparing the shareholder’s resolution to start liquidation (e-Residents can do this online, non e-Residents need…
