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Fast-track liquidation

This information is provided by:Netherlands Chamber of Commerce, KVKNetherlands Chamber of Commerce, KVKNederlandse versie

Fast-track liquidation is a quick way to dissolve and liquidate your bv, nv, foundation or other legal entity. Read more about fast-track liquidation on this page.

With a fast-track liquidation, no liquidation (financial settlement) is required, and you can quickly settle the dissolution of a legal entity. That saves costs. You only need a decision from the general meeting of shareholders or board. As a result of this decision, the legal entity immediately ceases to exist. You must complete and file the KVK form 17a on KVK.nl, 'Dissolution of a company, legal person or partnership'.

What are the conditions?

In most cases, fast-track liquidation (also known as turbo liquidation) takes place at empty bvs that have no capital and therefore no income. Income consists of all assets on the balance sheet of a legal entity. For example, real estate, liquid assets, inventory, stock, and receivables.

Is there any income? Then a fast-track liquidation is not allowed. A liquidator must divide the assets.

Consider the financial implications

If you dissolve your business, you will need to draw up a final balance sheet. This is a final overview of your company's assets. Afterwards, these assets must be liquidated (financially settled) and distributed. So, check the following:

What are the risks?

If it turns out that there were assets in the legal entity after the dissolution decision, a creditor may ask the court to reverse the termination and still liquidate. Or they may file for bankruptcy. If you do not carry out the turboliquidation properly, this could be a risk for you as a director.

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