If you decide that you no longer need a company in Estonia, you must liquidate it. Liquidation is not a quick process at all, which takes about 9 months and includes the following steps:
- making a decision by the owners to liquidate the company and appointing a liquidator, entering data into the Commercial Register;
- approval of the initial liquidation balance sheet and the financial year report;
- Announcement of liquidation on the state portal (so that creditors can present their claims within 4 months);
- drawing up the final balance sheet and property distribution plan;
- removal of the company from the Estonian Commercial Register.

If the entrepreneur, during the liquidation process, cannot cope with the creditors' claim, the member of the board of the legal entity or the liquidator must immediately apply to the court with a petition for bankruptcy.
In this case, filing for bankruptcy is the responsibility of the board members and the liquidator. If it is not met, both civil and criminal liability may arise.

There is an opinion that if a company is "abandoned" and nothing is done with it, then over time the Commercial Register will delete it on its own.
We do not recommend resorting to this method, as in the end the company may be fined (for example, if the company's annual report has not been submitted).
If you want to start the liquidation process of the company, or you are interested in details, leave us a request.