Liquidation
We will make all your plans come true!
Liquidation
We will make all your plans come true!
Service description
Main information
Price
from 339
The term
3-12 months
Consultation
Consultations are held remotely or live in Vilnius.
Documents and information required
- Company’s extract from the Registry;
- Articles of Association;
- Shareholders / members list;
- Opening balance sheet.
Price includes
- Consultation;
- Document preparation;
- Mediation on documents submission to the municipalitys’ archive;
- Registry fees.
Our team follows the entire liquidation process from beginning to end.
The price does not include documents archiving and accounting services. If you do not have an accountant, we can offer you ours.
Still have questions? Feel free to ask.
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Contact us
You can close a Lithuanian company without keeping it dormant: we handle the voluntary liquidation from the shareholders’ decision to deregistration from the Register of Legal Entities. The price starts from €339, with document preparation, registry fees included and the submission of the company’s documents to the municipal archive for additional fee.The procedure usually takes 3–12 months, and consultations are held remotely or in Vilnius; if the company has no accountant, we provide one for the liquidation balance sheets.
Company liquidation in Lithuania is the procedure that ends a legal entity: a decision is made to liquidate the company and a liquidator is appointed, the company settles with its creditors, distributes the remaining assets to the participants and is removed from the Register of Legal Entities. Liquidation is governed by Civil Code, Arts. 2.106–2.113, the liquidation of a UAB additionally by the Law on Companies, Art. 73, and the liquidation of an MB by the Law on Small Partnerships, Art. 30.
- Voluntary liquidation is available only to a solvent company; the general meeting may not resolve to liquidate an insolvent company (Law on Companies, Art. 73(3)).
- Assets may be distributed to shareholders no earlier than 2 months after the required public announcement and notification procedures have been completed (Law on Companies, Art. 73(14)); since 1 September 2024, liquidation must be completed within 1 year of registering the “in liquidation” status, extendable by 1 year (Civil Code, Art. 2.110(3)).
- Centre of Registers fees: registration of the “in liquidation” status (€9.12 electronically), deregistration €8.92, public notice in the electronic publication €7.83 (Government Resolution No. 763).
Frequently asked questions about company liquidation in Lithuania
Can a Lithuanian company with debts be liquidated?
A Lithuanian company with debts can be liquidated voluntarily only if it remains solvent: the general meeting of shareholders may not adopt a decision to liquidate an insolvent company (Law on Companies, Art. 73(3)). A company that cannot meet its obligations when due, or whose liabilities exceed the value of its assets, falls under the Law on Insolvency of Legal Entities and may go through bankruptcy proceedings instead. A solvent company that only pauses its business may choose the suspension of the company’s activity rather than liquidation.
How is a company liquidated in Lithuania step by step?
Company liquidation in Lithuania generally involves several main steps: the shareholders resolve to liquidate the company and appoint a liquidator; the “in liquidation” status is registered in the Register of Legal Entities; the liquidation is announced in the source named in the articles of association three times at intervals of at least 30 days, or once with written notice to every creditor (Law on Companies, Art. 73(10)); the company settles with its creditors and fulfils its remaining liquidation obligations; the remaining assets are distributed to the shareholders; the company’s documents are transferred for storage as required by law; the liquidation documents are filed with the Centre of Registers and the company is deregistered.
How many months does company liquidation in Lithuania take?
Company liquidation in Lithuania usually takes 3–12 months. Assets may be distributed to the shareholders no earlier than 2 months after the required announcement and notification actions are completed (Law on Companies, Art. 73(14)). Since 1 September 2024, the liquidation must be completed within 1 year of registering the “in liquidation” status; the term may be extended by 1 year, after which the Centre of Registers performs the actions required to deregister the company (Civil Code, Art. 2.110(3)).
Who can be appointed liquidator of a Lithuanian company?
The liquidator of a Lithuanian company must have the required qualifications (Civil Code, Art. 2.108(3)). For a UAB, the liquidator must be a natural person and is subject to the same requirements as the company manager (Law on Companies, Art. 74(1)). The liquidator is elected by the general meeting of shareholders together with the decision to liquidate (Law on Companies, Art. 73(5)) and manages the settlement with creditors, the distribution of assets, the transfer of documents for storage and the filing for deregistration.
What happens to the company's documents before deregistration?
The documents of a company in liquidation whose retention period has not expired are transferred for storage to the administration of the municipality where the company had its registered office before deregistration, and a certificate is issued confirming the transfer or confirming that the company has no documents subject to transfer (Law on Documents and Archives, Art. 17). Lamigra submits the documents for storage as part of the liquidation service; the sorting and preparation of the documents for storage is ordered separately.