Liquidation of the company in Uzbekistan

In Uzbekistan, the liquidation procedure is regulated by the Civil Code of the Republic of Uzbekistan, as well as resolutions of the Cabinet of Ministers and the requirements of the State Tax Committee. The process can be voluntary — by the decision of the founders, or compulsory — by a court decision if the company violated the law, had large debts or did not operate.

The stages of liquidation include:

1. Making a decision to close the company and appointing a liquidation commission.
2. Notification of tax authorities, banks and foundations.
3. Conducting a tax audit, inventory of property, and settlements with counterparties.
4. The publication of a liquidation announcement so that creditors can make their claims.
5. Submission of final reports, closing of current accounts and exclusion of the company from the Unified State Register.

After completing all the stages, the company officially ceases to exist, and the founders receive documents confirming the closure.

Liquidation makes it possible to legally terminate the company’s activities, avoid sanctions for non-payment of taxes and preserve the reputation of the owners.

 

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