Liquidate your Lithuanian company without travelling to Lithuania
Linden prepares every document, deals with Registrų centras (the Centre of Registers, which keeps the Register of Legal Entities) and VMI (the State Tax Inspectorate), and deregisters the company. You sign the decision and give us the data. We do the rest.
EUR 1,600 + VAT
Fixed price for a solvent UAB or MB. In other cases we give you the price after the free review.
In short
companies deregistered
Linden has handled liquidations since 2016.
to reply
Within one working day we tell you which route you need and what it will cost.
trips to Vilnius
You sign the documents with an e-signature. The shareholders can be abroad.
Seven steps to deregistration
We need your time only in steps 0, 1 and 2. Linden does the other steps together with your accountant.
- You – the owner or manager
- Linden lawyer
- Accountant or archivist
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Free review
1 working day- You
- Linden
You write a few sentences about the company: its legal form, and whether it has debts, employees or assets. We reply whether liquidation fits, or whether another route is better: reorganisation, conversion or bankruptcy.
Get a review -
Preparation
1–2 weeks- You
- Linden
You end the company's contracts (usually only the accountant's contract stays), dismiss the employees, collect the debts owed to the company and pay its obligations. Linden gives you a list of what to do and when.
We need: the articles of association, the latest Registrų centras extract, the details of the shareholders and the manager, and the latest balance sheet.
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Decision to liquidate and the liquidator
about 1 week- Linden
- You
Linden prepares the shareholders' decision. You sign it with an e-signature. We file it with Registrų centras, and the company gets the status "in liquidation". From then on the liquidator runs the company, and the manager loses its powers.
Only a natural person can be the liquidator: the owner, the former manager or a Linden lawyer.
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Public notice and notice to creditors
1–2 weeks- Linden
The liquidation is published once, and all creditors are told in writing at the same time. The other way is to publish it three times, every 30 days.
Done by Linden. You do not need to do anything.
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Settling with creditors and VMI
several months- Linden
- Accountant
Creditors receive what they are owed, in the order set by law. The accountant files any missing tax returns. Then VMI itself tells Registrų centras that the company has settled with the state budget.
This is the longest part of a liquidation. It takes longer when VMI carries out a wider check.
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Remaining assets to the shareholders
not earlier than 2 months- Linden
What is left after the creditors are paid is divided among the shareholders in proportion to the nominal value of their shares, and recorded in asset transfer deeds. This can happen no earlier than 2 months after the public notice.
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Archive, liquidation deed and deregistration
about 1 month- Linden
- Archivist
The documents are handed over to the municipality for safekeeping. Linden prepares the liquidation deed and files all the deregistration documents with Registrų centras. Once it has them and the VMI notice, the register deregisters the company within 5 days.
You receive confirmation from Registrų centras that the company is deregistered.
EUR 1,600 + VAT for the whole liquidation
A fixed price for a solvent UAB or MB with no disputes with creditors. The price does not depend on how long VMI takes.
Included in the price
- a review of the company's position and an action plan;
- the shareholders' decision and all documents for Registrų centras;
- the public notice and notice to creditors;
- dealing with VMI, the accountant and the archivist;
- the asset transfer deeds and the liquidation deed;
- deregistration from the Register of Legal Entities.
Charged separately
- state fees and publication fees;
- the accountant's services (tax returns, the liquidation balance sheet);
- archiving the documents;
- liquidating a company that has disputes or cannot pay its creditors – we give you the price after the review.
Liquidation started by Registrų centras
Registrų centras can start liquidating a company itself. For example, when the company has not filed its financial statements for 12 months after the deadline, or has had no management body or no registered office for more than 6 months. From the notice, you have 3 months to put things right.
If you want to keep the company, we help you file the missing documents within those 3 months. If you want to close it, a voluntary liquidation is often the safer choice. Write to us, and we will tell you which route suits you.
Ask about the noticeWhat clients ask us most often
Questions from real letters from our clients.
How long does it take to liquidate a UAB?
In practice 3–6 months. Settling with VMI takes the longest. The law requires the liquidation to be completed within one year from the registration of the status "in liquidation". This period can be extended by one more year.
Can a company with debts be liquidated?
Yes, if the company can pay all its creditors. If it cannot, the owners have no right to liquidate it. An insolvent company ends through bankruptcy. In the review we tell you which route fits your company.
Who can be the liquidator?
Only a natural person who meets the same requirements as a company manager. Most often it is the former manager or a person chosen by the shareholder. A Linden lawyer can also be the liquidator.
Can the shareholder be abroad?
Yes. The decisions can be signed with an e-signature or remotely, so there is no need to come to Lithuania. Many of our clients are foreign shareholders.
Do we have to liquidate the company if it no longer trades?
No. You can keep a manager and not trade. But then the company stays in the register, and a set of financial statements must be filed every year. If you do not file it, Registrų centras can start a liquidation itself.
Are the assets the shareholder receives dividends?
No. The law separates the right to a dividend, the right to receive funds when the share capital is reduced, and the right to a share of the assets of a company in liquidation. It is worth checking the tax on such a payment with your accountant separately.
What happens to the company's documents?
Documents whose storage period has not yet ended are handed over to the municipality before deregistration. Without a certificate of the handover, the company is not deregistered. In practice an archivist puts the documents in order in about a month.
Can the decision to liquidate be cancelled?
Yes, if no shareholder has yet received a share of the assets of the company in liquidation. The decision is cancelled by the same body that adopted it.
Articles on liquidation
Get a free review of your company
Write a few lines about your company. A Linden lawyer will reply within one working day with the route, the price and the time it takes.
We answer on working days. E-mail info@linden.lt