Business owners often take a decision to have their companies dissolved – because of discontinuing business activity or the occurrence of other circumstances, such as death, moving abroad, etc. Closing a company as terminology has gained wide popularity – it summarizes the various procedures and their stages provided for in the Commerce Act aiming at the dissolution and final deletion of the company from the Commercial Register. You can prepare and submit the necessary documents either personally or through engaging the services of a lawyer. If you need help, I am at your service – please, read on to find out detailed information about the offered legal service.

Quick Facts about the Service

You may find below answers to some of the most frequently asked questions regarding the company dissolution service:

My fee for deletion of a Sole Proprietor is in the amount of 100 Levs and the one for liquidation of a company – 400 Levs. Information about the fee for other similar services and procedures may be found on page Fees.
The state fee for deletion of a Sole Proprietor is in the amount of 15 Levs and the costs for liquidation of a company are in the total amount of approximately 65 Levs – for state and notary fees, excluding the fee for accounting services that you would usually need to retain.
The deletion of a Sole Proprietor takes 4 business days, but the preliminary obtainment of the required for such purpose certificate that the payrolls have been delivered to the NSSI could take an extra 1 month. The duration of the liquidation of a company varies depending on the specifics of the particular situation, but may not take less than 7-8 months – due to the need to obtain a certificate under Art. 77 of the TSIPC and to wait for a period of 6 months from the date of publication of the invitation to the creditors to make their claims.
Yes, you can request the service either at a personal meeting in my office or remotely (at a distance) via phone or email – contact me to specify the terms of the service. An additional option for the service to be requested entirely online (via the Internet) is to be soon made available as well – through the Electronic Services page.
Details depending on the specifics of the particular situation (UIC of the company, information regarding the liquidator, liquidation time period, etc.) will be provided in the process of requesting the service. You will also need to provide identification documents for the respective persons (photos or scanned copies of such documents are to be provided in the case of remotely requested services).
The service covers full legal assistance with the liquidation and deletion of your company from the Commercial Register with the Registry Agency – more particularly: drafting and filing with the Commercial Register of the documents that are necessary for each of the liquidation procedure stages, filing an application with the NRA pursuant to Art. 77 of the TSIPC (upon request of the client), joint work with the accountant and liquidator, including day-to-day consultations on the legal aspects of the liquidation procedure. The service does not cover any other assistance outside of what is specified in the previous sentence, such as delivering payrolls to the National Social Security Institute, submitting tax return forms, selling out assets, terminating pending contracts, repaying outstanding debts, etc. – such actions are to be undertaken by the liquidator (personally or with the assistance of an accountant).

If you need additional information, please read on to find out more – both general information and links to detailed content on numerous aspects of the different company dissolution procedures.

General Information

Upon deletion from the Commercial Register the company ceases to exist as a legal entity (person); prior to deletion companies need to be dissolved and liquidated (by going through winding-up proceedings). The grounds for termination are set forth in the Commerce Act, the most widely used one of them being through a General Meeting’s resolution to such effect. Winding-up proceedings include liquidating the property of the company, collecting outstanding receivables, repaying creditors, etc.

Termination does not always entail liquidation – for example, there is a legal succession upon Transformation of Companies and the transforming company may be terminated and deleted without going through winding-up proceedings. Liquidation is not to be conducted when deleting a Sole Proprietor either.

The liquidation procedure is in most cases complex and could involve several stages (including several entries and publications in the Commercial Register), considering possible specifics and other complications (for example, when liquidating medical treatment facilities), complying with special tax law requirements, preliminary procedures before the NRA, carrying out numerous actions for selling out assets, satisfying creditor claims, etc. Such proceedings require joint work and coordination between the management of the company, the lawyer, the accountant and the other experts involved.

One or more standard form applications (of Group A – for deletion, of Group B – for entering dissolution and liquidation, of Group G – for publication of acts) along with the prepared documents enclosed thereto need to be filed with the Commercial Register for the purposes of the implementation of the respective procedure. The applications may be filed either on paper or electronically (via the Internet) by being signed with an electronic signature – including by a lawyer authorized for such purpose.

Dissolution Procedures

There are many specifics in the procedures relating to the different forms of company dissolution and that is the reason why such procedures have been explained in detail and developed in separate articles – part of the Info Center section of the website. Each article contains detailed information on the stages of implementation of the respective procedure along with complete lists of all necessary documents and applicable costs.

You may find in the right section of the page under Related Procedures a list of all articles published so far in the category of the service described herein, namely: the procedures for deletion of a Sole Proprietor and dissolution and liquidation of a Limited Liability Company.

As a lawyer practicing corporate and company law I have extensive experience in providing legal services in procedures for dissolution, liquidation and deletion of companies. In my practice I have had numerous occasions to work on the liquidation of different types of companies (LLCs, Joint-Stock Companies, General Partnerships), as well as other merchants, such as cooperatives, branches of foreign companies, etc. I have also provided legal assistance in numerous procedures for deletion of Sole Proprietors from the Commercial Register.

Questions and Answers

Although the articles contain detailed information, there are still many specific elements of the dissolution procedures that might remain out of their scope. That is the reason why the website has been designed to allow online discussion of the published articles and posting questions to them – thus aiming to help clarify the respective topics through exchange of information and opinions on related matters of interest to the users.

You may find in the right section of the page under Related Questions a list of the latest questions published in the “Dissolution of Companies” category. If you would like to see all questions, please visit the Questions and Answers page and use the available web form to filter the results by the respective category.

Still not finding the information you need?

If you are not finding the information you are looking for and have additional questions regarding the above described service, please don’t hesitate to contact me via any of the ways listed on the website, including via Viber or Skype. I am at your service and will gladly answer all of your questions so that you can make an informed decision as to whether or not to use the company dissolution service.

If you would like to reach me, please use the contact information below or visit the Contact page (there is also a web form on the page that you may use to send me a message).