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400-711-2005
意大利公司ITALY
When you decide to give up your business in a certain field and direct your priorities on other markets, firstly you have to liquidate the firmyou don't need any more. You should be aware of the procedure you must follow to finish your business in Italy.
Our local partners from Milan and Rome can offer you assistance withcompany liquidation in order to finish more rapidly your business and maybe open a new firm in other field where there are more opportunities. If you are the business owner, you may decide to deregister your firm even if the balance sheet is different from zero.
Limited liability companies and partnerships can be liquidated in certain circumstances, related to company's activity. When company term expires, you can liquidate it or when the goal of your business is accomplished or cannot be achieved. Liquidation is a solution if you cannot develop further operation and the capital come below the minimum required by law. Also, a board decision or the conditions from the Company's Act permit the rapid liquidation of a firm.
How long does it take to liquidate a firm in Italy?
You cannot close a company in Italy very rapidly, in just one day because you must follow the legal procedure. Firstly, you should have a registered office and an accountant who can handle the financial deeds through the whole period of liquidation and then you can start the procedure for dissolution.
Shareholders should meet at a public notary office and announce their intention to finish the company and it will be appointed a liquidator. Until the taxes are paid and the creditors of the company recover their debts, the firm will remain in “pending dissolution” for a year.
Types of liquidation of a company
The shareholders can choose a voluntary dissolution in order to be sure that the company is closed respecting the legal procedure. Dissolution is not so expensive compared to liquidation, so it's a good alternative if you want to save some money. Problems may appear if the director of the company didn't file the annual returns with the registrar and didn't pay the taxes, so he can be fined.
Another way to deregister a firm is compulsory dissolution which means that the Court will take the decision based on a request of the creditors.
For companies in insolvency, there are three procedures of liquidation: compulsory administrative bankruptcy, liquidation bankruptcy and extraordinary administration.
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