Liquidation (termination of activity) of a branch of a foreign company in Russia
Client
UK based company. Activities:
- Recruitment services
- Manufacture and trade of polymer products
Objectives
Liquidation of a branch of a foreign company:
- Termination of accreditation of a foreign company's branch in the Russian Federation based on the foreign company's decision and removal from tax registration
- Dismissal of branch employees
- Liquidation reporting, support of tax audit (if initiated by the tax authority)
- Closing of bank accounts
- Transfer of relevant documents to the State Archive
Work stages
- Assisting in passing the check of presence of debts to the budget
- Coordination of contract settlements and termination notices
- Preparation of draft documents, such as the company's decision to terminate the branch/representative office, powers of attorney for representatives, sending to the client for signing (drafted in Russian and foreign languages)
- Dismissal of branch office employees
- Submission of documents to the authorized tax authority for accreditation of branches of foreign companies
- Submission of liquidation reports to the tax authority, preparation of responses to tax audit requirements and submission of additional requested documents.
- Closing of bank accounts, after all debts to suppliers and the budget have been repaid.
- Receipt of documents on termination of accreditation and deregistration from the authorized tax authority
- Receipt of documents on deregistration from the SFD
- Transfer of relevant documents to the State Archive
- Destruction of the branch seal
Company liquidation
Client
A world leader in the manufacture of tubing fittings for industry and energy. Activities:
- Repair of metal products
- Repair of machinery and equipment
- Repair of electrical equipment
Work stages
- analyzing the client's constituent and accounting documents
- development of documents for the liquidation procedure stages (minutes of the general meeting of participants, balance sheets, powers of attorney, publications, certificates, inquiries, etc.)
- carrying out the necessary registration actions, filing mandatory publications on liquidation, identifying the client's creditors, working with the organization's property
- Interaction with state authorities, banks, state archives during liquidation procedures
- interaction with creditors and counterparties of the client
- preparation and transfer of the liquidated client's documents to the state archive for storage
Simplified liquidation procedure for SMEs from October 10, 2023
On October 10, 2023, the form of an application (form No. P19001) for the simplified liquidation of a legal entity classified as a small and medium-sized enterprise (SME) enters into force.
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Liquidation of a Company in Russia
Liquidation of a company in Russia may seem to be a tricky and complicated process. In order to help companies learn more about the whole process and be able to estimate possible time frames, please see below a liquidation plan for an LLC in Russia (OOO) with Konsu, which consists of 11 steps.