Our lawyers in Macedonia can provide legal guidance to entrepreneurs interested in closing a company in Macedonia. Below is information on how company liquidation in Macedonia is carried out.
| Short Facts | |
|---|---|
| What is liquidation? | Process of closing a company, selling assets, paying debts, and deleting it from the registry |
| Types of liquidation | Voluntary (by owners) and compulsory (by court/creditors) |
| Liquidator | Person appointed to manage liquidation |
| Liquidator duties | – collects receivables, – settles debts, – monetizes assets, – reports to court/shareholders |
| Creditor notice | Must publish liquidation announcement 7–15 days after registry entry. |
| Asset distribution (movable) | Within 1 year of liquidation decision |
| Asset distribution (immovable) | Within 10 years of liquidation decision |
| Registry deletion | After liquidation, liquidator submits required documents for deletion. |
| Can company return after liquidation? (Yes/No) | No, company cannot resume after liquidation. |
| Court supervision (Yes/No) | Yes, courts may supervise voluntary liquidation, especially for creditors. |
| Reorganization option | Companies have the option to restructure instead of liquidating. |
| Liquidation vs. bankruptcy | Bankruptcy is decided by court, liquidation can be voluntary. |
| Duration | Can take months to several years, depending on the complexity. |
| Document retention | Must keep the documents for at least 10 years. |
| Our services | We provide company formation and liquidation services in Macedonia. |
What is the liquidation of a company in Macedonia?
The process through which a company can close/cease its activities, respecting the steps involved.
What are the methods through which a company can be liquidated in Macedonia?
- Voluntary,
- Compulsory.
Who is in charge of closing a company in Macedonia?
A specialized liquidator appointed by the company shareholders.
Is bankruptcy an option to close a company in Macedonia?
Yes, if the company is insolvent.
What are the reasons for closing a company in Macedonia?
- the shareholders no longer want to continue the activities,
- the company cannot comply with the financial obligations,
- the business has an expiry date, among other details.
You can also explore the following infographic with details on this topic:
Where do I deregister a company in Macedonia?
The process is done at the North Macedonian Central Registry.
NOTE: The company must obtain tax clearance from the Public Revenue Office before liquidation.
What are the key steps for closing a company in Macedonia?
- appointing a liquidator,
- verifying the balance sheet and all financial documents of the firm,
- selling assets and paying the debts,
- distributing the remaining assets to the company owners,
- de-registering the firm.
NOTE: A formal decision by the company’s shareholders is the basis for liquidating a company in Macedonia.
Who can serve as the liquidator responsible for closing a company in Macedonia?
Apart from a licensed liquidator, a shareholder or the company director can also be appointed when closing a firm in Macedonia if he or she meets specific legal requirements.
Are there specific documents needed when closing a company?
Yes, here are some of them:
- the decision to wind up the company,
- annual company accounts,
- a document stating the liquidator,
- a recent bank account report,
- tax clearance certificate,
- a final notarized report stating the creditors have been paid.
What happens in a compulsory company liquidation in Macedonia?
- this process starts after a creditor makes a claim in this sense,
- the company’s assets are analyzed and if necessary, they will be sold to pay creditors before the company’s liquidation in Macedonia,
- if some of the goods remain, they will be distributed among the shareholders.
NOTE: Compulsory company liquidation is carried out in the court of law. The authorities can issue a decision about closing a company in Macedonia.
Is company reorganization a solution instead of liquidation?
Yes, in some cases.
What happens to employees when a company is closed in Macedonia?
The employment contracts are terminated in respect of the existing labor laws.
How long does it take to close a company in Macedonia?
Around 3-6 months, except for complex cases where the period is prolonged.
In addition to company liquidation services in Macedonia, our specialists can help you in other situations as well. For example, our immigration lawyers in Macedonia can offer you useful guidance and support for relocation to this country. Please get in touch with our law firm in Macedonia for comprehensive assistance and legal advice with any problems you encounter.