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Company liquidation in Georgia

We run liquidation from the owners' decision through to removal from the register, so that the company leaves without unsettled obligations or questions left for the director.

Simply stopping work is not the same as closing a company: it stays in the register, with a director, an address and an obligation to file.

What the work covers

• Looking at the situation first. Whether there is turnover, debt, staff or assets. The route and its cost follow from that.
• Checking the state of filings. What has been filed and what has not, whether there are assessments or arrears. This is what most often holds the procedure up.
• The owners' decision to liquidate and the authority of whoever runs it.
• Notice and publicity, so that creditors can bring claims.
• Settling with creditors: identifying obligations and dealing with them.
• The tax side: filings for the period, settling assessments, deregistration.
• Staff: terminating employment with the proper settlement.
• Closing accounts and distributing what remains among the owners.
• Removal from the register and the set of documents handed to you.

What is not included

• Writing off debts. Liquidation is not a way out of obligations: while they are unsettled the procedure does not complete.
• The case where liabilities exceed assets. That is a different situation and a different route, and telling one from the other belongs at the beginning, not halfway through.
• Reconstructing the books for earlier periods. Separate work, which we can price, but not part of liquidation.
• Tax consequences for the owners in their own countries, which follow those countries' rules.

Alternatives to closing

Liquidation is not the only route and not always the cheapest. Depending on the situation, the options include selling the shares to a new owner, reorganisation, or keeping the company dormant but in order with minimal filings.

Which works out cheaper depends on turnover, assets, staff and whether you intend to come back to the activity. We start from the facts rather than from a decision taken in advance, partly because sometimes the right answer is "do not close it".

What you will need

• The extract from the register, the charter and the owners' decisions.
• The state of filings: what has been filed, whether there are assessments or arrears.
• A list of obligations: counterparties, loans, owner loans.
• Staff and current employment contracts.
• The company's assets, account balances and which banks hold them.
• The owners and where they are tax resident.

How the work goes

1. You describe the task, through the form on the site, by email or in a messenger.
2. A lawyer goes through what you have, what still has to be obtained and where the tight spots are.
3. We agree the scope and the price. You pay nothing before that point.
4. We sign a contract in which the scope of the service is set out in writing.
5. You hand over the documents, we check the set and tell you what is missing.
6. We run the procedure and keep you informed at every step.
7. You receive the result and the full set of documents.

Prices

Our fee and the state fee are counted separately.

Consultation from $30. The price for your case is confirmed before the work starts and fixed in the contract.

What is outside our control

• How long the register, the tax authority and the banks take.
• Whether creditors come forward in the procedure and for how much.
• The outcome of settling assessments where there are disputed amounts.

We say where a matter is weak before the work starts. If in our view the procedure will drag or run into an unsettled debt, you will hear it at once.

Frequently asked

How much does it cost to close a company or a sole trader?

Closing a sole trader: $100; LLC liquidation: from $700. Closing a sole trader and liquidating an LLC differ in scope. State fees and charges, where your procedure has any, are paid separately from our fee: their amount is set by the state and we do not mark them up. Consultation: from $30.

Are state fees included in the price?

State fees and charges, where your procedure has any, are paid separately from our fee: their amount is set by the state and we do not mark them up. The invoice shows our fee, state fees and third-party costs separately.

Can I simply stop trading instead of closing the company?

You can, but it costs more than it seems. The company stays on the register together with its director, registered address and the duty to file. Unfiled reporting turns into arrears, arrears into assessments, and assessments into claims against the company and its director.

About this page. It sets out the scope of our service and the general order of the procedure. It is not legal advice and not a public offer: the scope, the timing and the price for a particular matter are agreed individually and recorded in the contract. Requirements, fees and practice change, so anything here is checked against the position on the day you apply. In many procedures the final decision rests with the competent authority and its discretion, so a positive outcome cannot be guaranteed.