Liquidation is carried out in two stages. The decision on termination of activities and commencement of the liquidation process is adopted by the shareholders’ meeting. The duties of the liquidator shall be performed by the executive board, unless the shareholder has decided to appoint another person as liquidator. The company may appoint one or more natural persons as liquidator.

When registering changes, information on the beneficial owners (BO) of the limited liability company must also be provided in the application. Unless other circumstances are identified, the liquidator may be considered the BO of the limited liability company, taking into account the activities actually carried out by the liquidator during the liquidation process. For more information, see the section Identification of Beneficial Owners During Liquidation.

Please note that, in accordance with the Commercial Law, shareholders or stockholders have the right to participate in and vote at a meeting remotely or to vote prior to the meeting. For more information, see the section Explanation of remote participation in meetings of shareholders, stockholders and members.

In cases prescribed by law, an application for the registration of changes may be sent to the State Revenue Service for review. For more information, see the section On the Review of Applications Received by the Register of Enterprises in the State Revenue Service.

	Review period is 1–3 business days (excluding the day of submission)*		Fees start from EUR 30.00		Submit documents via the e-service
* The statutory time limit for reviewing documents may be extended pursuant to Section 64(2) of the Administrative Procedure Law.

Documents to be submitted:

• application form KR13;

• minutes of the shareholders' meeting or a shareholder's decision (if the duties of the liquidator will not be performed by the executive board, signatures must be certified – either with a secure e-signature for electronic submission or with notarisation for paper submission); 

• consent of the liquidator to hold office (signatures must be certified – either with a secure e-signature for electronic submission or with notarisation for paper submission). This is not required if an existing member of the executive board becomes the liquidator or if the consent is included in the application form;
• if the application is submitted by post, proof of payment of the state fee (receipt or copy, online banking payment confirmation, or payment details in free text).

A foreigner (foreign national) who has legal ties with Latvia, on the basis of which mutual rights and obligations in the field of commercial activity and taxation arise or have arisen, but who has not been assigned a personal identity number of the Republic of Latvia, must submit a questionnaire for the inclusion of data in the Register of Natural Persons (to be signed personally by the foreign national with a secure electronic signature if submitted electronically; if a secure electronic signature is not available, this document shall not be submitted).

If an entry regarding termination of activities has been made in the commercial register on the basis of a decision of the State Revenue Service or the Register of Enterprises, or if the activities of the company have been terminated on the basis of a court ruling and no interested person has recommended a candidate for liquidator to the court, a person interested in the liquidation may submit an application for the appointment of a liquidator. In such a case, the application form and the liquidator’s consent to hold the office (unless the consent is included in the application form) must be submitted, and the state fee must be paid.

Documents must be submitted to the Register of Enterprises within 3 days of the adoption of the decision.

See information on how to become an officer or a member of the administrative body of a merchant, as well as on their duties and powers.