The company liquidation in Georgia, Tbilisi
Liquidation implies annulment of registration of a legal entity (company) in Georgia if there are the grounds prescribed by law.
The liquidation process is launched upon registration of initiation of liquidation. Liquidation of a legal entity in Georgia may occur if there is a decision on liquidation made by the partners/founders of the legal person or by the court, a guilty verdict concerning to criminal case, or a decision of the court on completion of a bankruptcy case and annulment of registration of the legal person.
Liquidation based upon a decision of partners / founders occurs in two stages: initially, the initiation of the liquidation process is registered, followed by the registration of its completion.
If founders/partners of the entity decide to liquidate the entity, the initiation of the liquidation process should be registered and the entity's founders should notify all those persons, towards whom the entity has any liability.
The liquidation process should be completed within 4 months after registration of initiation of liquidation.
An applicant for this service may be a directly interested party (partner/founder, person authorized to represent/manage a subject) in person or by proxy.
To register initiation of liquidation process of entrepreneur and non-entrepreneurial (non-commercial) legal entity, following documentation is required:
- Application (to be filled in by front desk operator);
- Proof of identity document;
- A document verifying initiation of liquidation process of the subject (a decision of partners/founders on initiation of liquidation process of the entity, made in accordance with the rule prescribed by the bylaws);
- Written information by the authorized person concerning all of the known creditors and the terms of their satisfaction (if a subject is a debt-free company, this should be stated);
A confirmation document on registration service fee payment (payment may be done on the spot).
Our team of attorneys can help and assist you in the preparation of all the necessary documentation and act on behalf of you and represent your interests at the authorities.