Fast liquidation is an accelerated procedure under the Commerce Act that allows a company to be deregistered in approximately four months instead of the usual six to twelve. It applies only where the company has had no activity during the preceding twelve months, has no employees, is not VAT-registered, has no public liabilities and is not involved in court or enforcement proceedings.
The procedure starts with a resolution to dissolve the company, after which the Registry Agency automatically notifies the National Revenue Agency and the National Social Security Institute. Within thirty days, the institutions confirm the absence of liabilities. The company may be deregistered after the minimum three-month period has expired.
Fast liquidation is suitable for companies without assets or ongoing operations that wish to bring their existence to an end quickly and without complications.
