The dissolution process consists of several stages and takes over two months to complete.

In short, the proceedings are as follows:

  • The general meeting decides to dissolve the association and determines the liquidators and if necessary, also decides the distribution of remaining assets
  • A relevant petition is submitted to the register and the liquidators are entered in the register instead of members of the management board
  • A liquidation report is submitted in the annual reports section (if it becomes evident that the amount of obligations exceeds the amount of the association’s assets, then the liquidator must submit a bankruptcy petition to the court)
  • The association publishes an official announcement about its liquidation so that creditors could submit their claims (even if there are none). A waiting period of two months follows.
  • Debts are paid and the remaining assets are distributed (the latter must not be done before the passing of six months)
  • Final balance sheet is submitted as an annual report
  • A petition is submitted to the register for the deletion of the association (without a state fee) and a depositary of documents is appointed