Supervised liquidation of a foreign company's representative office
Experience of liquidation of foreign company's representative offices in Ukraine
Winding up of foreign company's representative office is rather time-taking and labor-intensive process that requires constant monitoring by competent lawyers. It consists of such principal stages as making a decision on winding up of representative office by the parent company, initiation of regulatory authorities inspections, receiving of certificates, deregistration in the Ministry of Economy and statistics authorities. Successful overcoming of each of specified stages requires the experience of embedded specialists.
For example, it is necessary to know that throughout the entire liquidation proceeding, until getting a certificate of no arrears and deregistration in tax authorities, it is required to submit nil reports. Failure to do so would result in penalties for the representative office, which go into liquidation.
The failure to comply with the time limits for processing of submitted documents is a norm in many state authorities due to the workload of their employees. Therefore, the practical experience of the lawyers engaged to the liquidation of a representative office wields major influence on completion date of this procedure.
Our lawyers provided the Client with full legal support of liquidation proceeding for a foreign company's representative office in Ukraine, which in particular included:
- provision of legal advice on winding up proceedings, incl. its particularities;
- assistance in preparing the draft of decision of the parent company on winding up of representative office;
- synchronous execution of full set of the documents for submission to all necessary state authorities so that in the future it would not become necessary to obtain additional documents from the parent company;
- full communication with the representatives of state authorities;
- removal of representative office from the United State Register and receipt of certificate of liquidation (deregistration).
The full package of services for liquidation of representative office was provided within six months. The client was surprised and pleased that our specialists did the work within as short time as possible.
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