Close the company, or put it "on ice"?
Dormant company
A declaration of no activity due by 30 June each year. No taxes are due; records and archives must still be kept.
Cost: €120/year without a subscription
Timeline: 1 day
Risk: a fine if the declaration is missed; the company keeps its UIC and its registry obligations
Suitable for a pause of up to 1–2 years.
Liquidation and deregistration
Dissolution, a 6-month notice period for creditors, certificates from the NRA and NSSI, deregistration.
Cost: from €400 one-off
Timeline: 7–10 months
Risk: low once deregistered — the company ceases to exist
Suitable when there will be no further activity.
Closing a dormant EOOD
The fastest case: no outstanding debts, no VAT registration, no employees. The procedure still goes through the 6-month notice period for creditors, but the certificates from the NRA and NSSI are issued quickly and the overall timeline is around 7 months. The cost is €400, all fees included.
Stages of the procedure
- 1
Notification to the NRA
Before the dissolution is entered, a notification is filed under Art. 77 of the Tax and Social Insurance Procedure Code. The NRA issues a certificate within 60 days.
- 2
Dissolution and liquidator
Owner's resolution, appointment of a liquidator, entry in the Commercial Register and a notice to creditors with a 6-month deadline.
- 3
Liquidation
Collecting receivables, settling liabilities, VAT deregistration, closing bank accounts, handing over payroll records to the NSSI.
- 4
Deregistration
Final balance sheet, liquidator's report, application for deregistration. The company ceases to exist.
How long it takes
A minimum of 7 months — the 6-month notice period for creditors plus the time needed for the NRA and NSSI certificates. With outstanding liabilities or a VAT registration, the timeline is usually 8–10 months.
Frequently asked questions
Can a company with outstanding debts be closed?
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Not through liquidation — debts must be paid off or settled first. If the company is insolvent, the path is insolvency proceedings.
Does the liquidator have to be an outside person?
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No. The liquidator is usually the existing director. They are entered with notarised consent.
What happens to the documents after deregistration?
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Payroll records are handed over to the NSSI; accounting documents are kept by the owner for 10 years.
Sources
Commerce Act (Art. 154, Art. 266–274); Tax and Social Insurance Procedure Code (Art. 77); Social Insurance Code (Art. 5(10)); Accountancy Act. Verified on 3 September 2026.
Important
Bulsmetka is a private accounting firm, not a government body. Information is general and does not replace individual advice. State fees are invoiced at cost.