Liquidation of the Representative offices (RO)

A representative office of a foreign business entity is not a legal entity and does not perform any independent commercial activity. A representative office acts on behalf of and under a power of attorney issued by a foreign business entity, and performs its functions as stipulated by the applicable law of Ukraine.

As a rule, representative offices are liquidated by the decision made by a relevant management body of a legal entity which is authorized for such actions with the charter. After the decision on liquidation of a representative office is made, an executive body of the foreign business entity appoints a liquidator and grants him/her a power of attorney for the liquidation procedure.

In the course of representative office liquidation, it is necessary to undergo inspection with the relevant tax authority, pension fund and social security fund, to make settlements with creditors and debtors, to close a bank account, to destruct a seal, to archive documents which are subject to long-term storage, to cancel registration of the representative office with the Ministry of Economy of Ukraine, and to delete information about it from the Unified State Register.

Specialists of ‘KD CONSULTING’ legal & consulting firm will provide in-depth consultancy concerning liquidation of representative offices of foreign companies and practical assistance on all stages of it.