How much time does it take to liquidate LLC or Individual entrepreneur?
The procedure of liquidation of LLC in comparison with the procedure of registration of ceasing of activity of a citizen as an individual entrepreneur is more time-taking and continuous. For example, in practice liquidation of LLC can take 0.5 of a year and more, ceasing of activity of a citizen as an individual entrepreneur takes 1 or 1.5 month. Such difference in the periods is provided that the process of liquidation of LLC includes the whole range of necessary actions, for example stocktaking, identification and notification of debtors and creditors, accounts with creditors, drawing up of liquidated balance sheet and others. Except these actions a field tax inspection can be carried out in connection with liquidation of LLC.
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