Liquidation of the Sole proprietorship

If you, for any reason, decided on termination of business activity as a natural person-entrepreneur, you have to undergo a liquidation procedure as required by law.

Voluntary liquidation starts from a decision made by a natural person-entrepreneur on termination of his/her business activity. A natural person-entrepreneur files an application on business activity termination to a state registrar.

In case of no grounds to dismiss the submitted documents, the state registrar makes an entry to the Unified State Register on terminated business activity by a natural person-entrepreneur and notifies the statistical office, state tax service, the pension fund of Ukraine of such entry.

Notice on entry to the Unified State Register on terminated business activity by a natural person-entrepreneur is published in the specialized press media.

In the course of terminating business activity of a natural person-entrepreneur, you will need to undergo an inspection procedure with the relevant state 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 return licenses (if any) etc.  

For state registration of terminated business activity by a natural person-entrepreneur based on his/her decision, such natural person-entrepreneur (or any person authorized by him/her) submits a package of documents as required by law to the state registrar not until expiration of the terms for the creditors to set their claims as stipulated by law.

If documents are submitted in full to the appropriate office of state registration, in compliance with the established terms and all legal requirements, a state registrar makes an entry to the Unified State Register on state registration of terminated business activity by a natural person-entrepreneur. Since this moment on, a a natural person loses his/her status of an entrepreneur.

Specialists of ‘KD CONSULTING’ legal & consulting firm have a long experience of cooperation with the state authorities and will assist you in prompt termination of business activity by a natural person-entrepreneur saving your time and inner harmony.