The liquidation of the SIA on the initiative of the participants shall be carried out in two stages. This section reads the steps of the first stage of liquidation (commencement of liquidation) of SIA. However, the procedures for the cessation of liquidation and re-opening of activities and the steps of the second phase or final phase of liquidation shall be read in other sections.

A decision on termination of activities and commencement of liquidation proceedings (stage 1) shall be taken by the meeting of shareholders. The liquidator's duties shall be performed by the board of directors of the SIA, unless the participant has decided to appoint another person to the position of liquidator. Members may appoint one or more natural persons as liquidators.

We note that under commercial Law, participants/shareholders have the right to participate and vote in the meeting remotely, or to vote before the meeting. Read more in the Explanatory Notes on Remote participation in meetings of Members, shareholders and Members section.

^{* The statutory time limit for examining documents may be extended on the basis of Section 64, Paragraph two of the Administrative Procedure Law.}

In the cases specified in the Law, an application for registration of changes may be sent for inspection to the State Revenue Service. Read more about the assessment of applications received in the Enterprise Register at the State Revenue Service.

Documents to be submitted:

• application form KR13;
• minutes or decision of the meeting of participants (signatures shall be certified - or notarially, or with a secure e-signature in order to submit electronically. In cases when the duties of liquidator are performed by a Member of the board of directors of the company (members of the board of directors), signatures on the minutes of the meeting of SIA participants (decision of the participant) need not be certified notarially.);
• consent of the liquidator to take up the position (signatures shall be certified - or notarially, or with a secure e-signature in order to submit electronically). Need not be submitted if the existing board Member becomes liquidator;
• a questionnaire for inclusion of information in the Register of natural persons (to be signed by the foreigner himself or herself with a secure electronic signature in order to submit electronically; if there is no secure electronic signature, this document shall not be submitted) of a foreigner (foreigner) who has a legal link with Latvia on the basis of which mutual rights and obligations in the field of commercial activities and taxes are formed or have developed, but no personal identity number of the Republic of Latvia has been granted;
• if the particular type of service is not available on the e-services portal registrs.ur.gov.lv or the application is submitted via postal services, information regarding payment of the State fee shall be appended (receipt or a copy thereof, or printout of an Internet bank payment or free text information). Important! To make sure that the specific application is submitted electronically to the e-service registrs.ur.gov.lv, please search your service in the detailed list of services.

Deadline for submission of documents in the Enterprise Register: 3 days from the decision.

If an entry in the commercial Register regarding termination of activity has been made regarding violations on the basis of a decision of the State Revenue Service or Enterprise Register, or if the activity of the SIA has been terminated on the basis of a court adjudication, and no interested person has recommended a candidate for liquidator to the court, the person interested in liquidation may submit an application regarding the appointment of the liquidator. In such case an application, a notarised consent of the liquidator to take up the position, receipt or other information regarding payment of the State fee in the Treasury account shall be submitted or signed with a secure electronic signature and time stamp.

View information on how to become an official and administrative Member of the merchant, as well as duties and authorisation thereof.

Additional information material:

How to eliminate SIA (I), LV Portal, 02.06.2016

How to abolish SIA (II), LV Portal, 03/06/2016