Liquidation — How to close a company in Macedonia
Liquidation is a voluntary procedure for closing a business when the company is solvent (can pay all obligations). Unlike bankruptcy, liquidation is the owner's choice.
Definition
Liquidation is a voluntary procedure for closing a business when the company is solvent (can pay all obligations). Unlike bankruptcy, liquidation is the owner's choice.
Details
Procedure: 1) Liquidation decision. 2) Publication in Official Gazette (2×). 3) Creditor claims period (45 days). 4) Payment of all obligations. 5) VAT deregistration. 6) Final report submission. 7) Deletion from Central Registry. Duration: minimum 3-6 months.
Example
DOOEL owner decides to close the business: makes decision → publication → 45 days waiting → pays due obligations → final tax return → deletion. The entire process takes ~4 months.