Before starting the company's liquidation the manager of the company or his proxy must notify the relevant Tax office for the liquidation. For this purpose the manager should submit a standard application form in the Tax office and should obtain from the Tax office with a document  (certificate) that they are aware of the liquidation. Only after receiving of the above certificate from the Tax office it could be continued with the upcoming liquidation. The certificate that the Tax office is notified correctly should be attached to the package of documents for the first stage of liquidation (termination of company activity).

After the liquidation is already opened and registered in the Trade registry the liquidator of the company should obtain with a document from the Social Insurance Institute that the company has arranged its relations with the employees (even the company has no employees such document is required).

These two documents are necessary for the process of liquidation of each company and without them the process of liquidation could not happen.

Before process of liquidation is started the company must appoint a liquidator. The liquidator could be (and usually is) the manager of the company as in this case the management capacity is replacing with the capacity of the liquidator.The liquidator must submit in the Bulgarian Trade register his (her) signature - specimen which must be notary verified. If the liquidator is living in another country, he or she could verify the signature before the Bulgarian consul in the relevant country who is acting as Bulgarian notary OR to verify the signature before local notary, but after the notary verification the specimen must be provided with apostille under the Hague convention, translated in Bulgarian language by licensed translator and legalized before the Bulgarian Ministry of foreign affairs.

The other documents for the purpose of liquidation is not necessary to be verified. As there are a lot of legal and accountancy documents which must be prepared during the liquidation process the company must appoint a lawyer and an accountant who should work closely together. The process of liquidation continues minimum 6 months.

This article is created by “Valova and Angelova” Law firm