The liquidation of a company is a legal procedure through which the company ceases its production or commercial activity.
InKazakhstan the liquidation of a limited liability partnership (LLP) requires the assistance of specialists to ensure that the liquidation process complies with Kazakhstan legislation and that all deadlines are met. This process may take from six months to one year.
While the insolvency of an entire company takes place under the “simplified insolvency” method. In most foreign liquidations only the foreign subsidiary withdraws from the market. Generally this happens because there is a lack of demand for products or a lack of profitability.
Ausserer & Consultants offers liquidation services for legal entities in Kazakhstan. Our consultants will take care of the accurate execution of all steps of the liquidation process in a short time and in compliance with the Kazakhstan legislation providing full assistance also from the point of view of the legal address and the natural person until the moment when the company is liquidated. This process includes the following steps:
- Resolution on Liquidation (within three days)
- Appointment of the Liquidator
- Preparation of the Opening Balance Sheet
- Distribution of Assets to Creditors and Shareholders
- Repayment of Tax Debts and Payment of Employees
- Preparation of the Liquidation Closing Balance Sheet
- Notifying State Tax Authorities and the Commercial Register