Company liquidation in Armenia
We will close an Armenian company by the Civil Code calendar: the record in the state register, the announcement, the two months for creditors, the interim balance sheet and the final registration.
Creditors' term
Срок кредиторам
2 months is the floor
2 месяца — это минимум
To enter the process
За вход в процедуру
AMD 20,000
20 000 драмов
Tax office reply
Ответ налоговой
20 days, or silence
20 дней или молчание
Registering the end
Регистрация конца
no duty at all
без пошлины
When you need company liquidation in Armenia
One website carries the notice
The liquidation commission posts the announcement on the state's site for public notifications, azdarar.am, and names there the procedure and the term for submitting claims.
Two months is the floor
The term named in that announcement cannot fall below 2 months from the day it goes up. How much longer it runs is for the commission to decide.
A late claim gets what is left
Claims filed after the term are satisfied out of the property remaining once the timely ones are met. They do not disappear and they do not go first.
Silence from the tax office clears you
The registrar asks the tax authority about debts to the budget. If no answer arrives inside 20 days, that silence counts as confirmation that there are none.
Powers pass to the commission
From the moment the liquidation commission is appointed, the authority to manage the affairs of the company belongs to it, and it acts in court in the company's name.
What you get
- The decision delivered to the state register
- The announcement posted where creditors look
- The interim balance sheet drawn and approved
- Creditors paid tier by tier, in order
- The liquidation registered and the record closed
What is required to liquidate an Armenian company
Two documents decide how long an Armenian closing runs. The announcement starts the clock for creditors; the interim liquidation balance sheet starts the payments. Everything between the two is arithmetic the Civil Code has already written down, including the order in which people get their money.
Our other services in the republic are listed on the Armenia page, and a general account of how companies are wound down sits under closing a company.
What the state register needs at the start
- An application, and the decision to liquidate taken by the body the charter empowers.
- The documents needed to post the announcement on the official site for public notifications.
- Proof that the state duty is paid: 20-fold of the base duty, which is AMD 20,000 at a base of AMD 1,000.
- A liquidation commission or a liquidator appointed by whoever took the decision, with the procedure and the terms of the liquidation defined.
- The agency then posts the announcement and records that the company is in liquidation within 2 working days.
The order creditors are paid in
- First, creditors secured by a pledge of the property of the company being liquidated.
- Second, citizens to whom the company is liable for harm to life or health, through capitalisation of the relevant regular payments.
- Third, severance benefits, wages under employment contracts and remuneration under copyright contracts.
- Fourth, the debt of mandatory payments to the state budget.
- Fifth, the remaining creditors, and sixth those holding subordinated credits.
- Each tier is reached only after the one before it has been satisfied in full.
The duty at each end
| Registry action | State duty |
|---|---|
| Recording that the company is in liquidation | AMD 20,000 |
| Registering the liquidation itself | none |
| The base duty the rates are built on | AMD 1,000 |
What the register checks before it closes you
With the closing application come the decision approving the liquidation balance sheet, the balance sheet itself, a statement that the archive-keeping requirements have been met, and a declaration from the head of the executive body that no court case, enforcement proceeding or administrative proceeding against the company is open. Within one working day the agency asks the tax authority about debts to the state budget and to social security. The answer is due in 20 days, and its absence counts in your favour.
That wait can be skipped by bringing your own statement from the tax authority, issued on the day the liquidation balance sheet was approved or later. Once nothing stands in the way, the agency records the liquidation within one working day, and the company is treated as gone from the moment of that registration.
Sources: the announcement, the 2-month floor, the interim balance sheet and the order of payment — articles 68, 69 and 70 of the Civil Code; the documents, the tax enquiry and the absence of a duty at the end — articles 47, 50 and 51 of the Law on State Registration of Legal Persons; the base duty and the 20-fold rate — the Law on State Duty.
Stages of work
The decision and the commission
The founders or the body the charter empowers resolve to liquidate, appoint the commission and fix the procedure and the terms. From that appointment the commission runs the company and represents it in court.
Telling the register at once
The decision goes to the agency immediately, with the application, the papers for the announcement and the receipt for AMD 20,000. The agency makes the record within 2 working days.
The announcement and the 2 months
The commission posts on azdarar.am, naming the procedure and the term for claims, which cannot be under 2 months. In parallel it writes to the creditors it already knows about.
Collecting in, and closing down
Receivables are collected, employment relations, leases and registrations are wound up, and every claim that comes in is checked against the books before it is admitted or refused.
Drawing the interim balance sheet
Once the term expires the commission draws up the interim liquidation balance sheet: the property, the claims lodged and the outcome of every one of them. Approval comes from the founders.
Payments in the statutory order
Once that balance sheet is approved, payment begins and works down the tiers. If the funds fall short, the property goes to public biddings under the rules that govern them.
The final balance sheet and the registration
After the settlements the commission draws the liquidation balance sheet, has it approved and files it with the archive statement and the declaration on open proceedings. Registration ends the company.
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