Lawyer for striking companies off in Madrid

A practice specialising in closing companies

Striking a company off is the process by which a business owner closes a company for good. Unlike a temporary cessation, striking off is irreversible and ends with the company disappearing in law. In most cases, an application to strike a company off is prompted by liquidity problems or difficulty meeting debt obligations. In any event, it is a process made up of a number of intermediate steps, and carrying them out properly calls for detailed knowledge. Our lawyer for striking companies off in Madrid can help you.

Escalera & Tuset is a corporate law practice specialising in striking commercial companies off. Over years and years we have helped dozens of business owners strike their companies off as efficiently and as precisely as possible. To do that we not only give tailored legal and administrative advice, taking account of the particular features of each case, but also personally take on many of the formalities the striking off requires. We are here to guide you and stay with you from beginning to end. Get in touch.

Steps to striking a company off

The first step in striking a company off is to dissolve it. While dissolved, the company keeps its legal personality but stops all economic activity. The company's management body also disappears so that an authorised liquidation body can take over. That is the point at which the company's legal name has to have the words "en liquidacion" added to it, at which debts have to be settled as far as possible, the balance of accounts drawn up and a liquidation process carried out.

Registering and publishing the final closure

Once the company has been liquidated, it is time to register the striking off at the Commercial Registry. That requires a public deed evidencing it, which has to include the final liquidation balance sheet, the resolution approving it, the

statement that the creditors have been paid and the division of the remaining assets among the shareholders. After that, the final closure of the company is published, and from that moment it can no longer be brought back. There are, however, a great many intermediate steps to take.

Deregistering for the tax on economic activities

Such as deregistering for the tax on economic activities, deregistering from the special scheme for self-employed workers or deregistering from the census of businesses and professionals. Transfer tax and stamp duty also have to be paid within thirty working days at most of the deed being filed at the Commercial Registry. As you can see, there are many small tasks to deal with in order to complete the striking off of a commercial company. Leave it in the hands of a firm that specialises in it. We take care of everything.

Can any company be struck off?

Any company can consider being struck off on the expiry of its term, by decision of the shareholders or under a statutory or constitutional ground. To do so, however, it has to be up to date with its creditors and has to meet, from beginning to end, every requirement and procedure Spanish law sets out for that purpose. Call us now, tell us about your situation and let an expert company closure lawyer look at it in detail. Let us make it as straightforward as possible.