Closing a Company in Japan. Dissolution and Liquidation of Japanese Co., KK GK Procedure & Flowchart
Closing a Company in Japan. The Procedure, Flowchart, Steps, Documents required for the Dissolution and Liquidation of a Japanese Local/Subsidiary Company.[Kabushiki-Kaisha(KK)/Godo-Kaisha(GK)/Yugen Kaisha(YK)] and obtaining the Closure Registration Certificate. These legal procedures for the dissolution and liquidation of a foreign subsidiary company, for Kabushiki-Kaisha and Godo-Kaisha and or Yugen Kaisha, should be completed to close the company and terminate the business operation in Japan. Creditors of the company must be given notice for a period of not less than two months before the liquidation to submit objections (if any) for the liquidation of the company on an individual basis and through an official notice in the official gazette. Notifications to tax authorities and all other procedures need to be completed as per the flowchart. Please visit our website and or send us an email for further details. Disclaimer: This information is for illustration purposes, no warranty is given that it is free from error or omission, and Sarkar Office® cannot be held liable for any decision made based on this information only!
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Closure of Japanese companies
Dissolution and liquidation of a subsidiary co. / Japanese Co. (KK, GK, YK)
The following procedures must be completed when dissolving/liquidating a subsidiary/Japanese
company.
Creditors of the company must be given notice for a period of not less than two months before the
liquidation to submit objections (if any) for the liquidation of the company.
In case the company has negative net assets, the company cannot independently complete the usual liquidation
procedures rather must follow special liquidation procedures under the direction of a court.
Basic Flow of procedures for dissolving/liquidating a subsidiary Japanese co.
(Kabushiki-Kaisha (joint-stock corporation) / Godo-Kaisha (LLC)) / YK - Approx Time frame
Resolution at the general meeting of shareholders or equivalent on the dissolution of the company
and the appointment of a liquidator.
¯
Application to the Legal Affairs Bureau for “Registration of the dissolution” of the company
and the appointment of a liquidator - (2~4 weeks)
¯
Notification to tax authorities of the dissolution of the company and the appointment of a liquidator. (1~3 weeks)
¯
Call for creditors re objections (if any) for liquidation of the company, on an individual basis and also through an
official notice in the official gazette (mandatory), and to attend claims (if any)
¯
Preparation of a balance sheet and inventory of property at dissolution
¯
Approval by a general meeting of shareholders or equivalent of the above balance sheet and inventory of
property (notification delivered to members in the case of a limited liability company).
¯
Ascertainment and distribution of residual assets.
¯
Resolution approving the conclusion of liquidation at the general meeting of shareholders or equivalent (only after the stipulated
mandatory period of individual notice and an official notice in the official gazette is over & no claim and or after settlement)
¯
Application for registration of the completion of liquidation of the company with the Legal Affairs Bureau for
registration of the closure (1~2 week)
¯
Obtaining the Company Closure Registration Certificate from the Legal Affairs Bureau
(approx. within 2 weeks after application for registration)
¯
Final accounts, BSPL need to be prepared, and all taxes (in case of any dues and mandatory Inhabitant tax payment) need to be paid to
close the company and submit the final return. Closing company’s all corporate bank accounts.
Final Notification of completion of liquidation and Company Closure to tax authorities, etc. (2~4 weeks)
Completion of Registration of “Closing” of a Subsidiary Japanese Company
Disclaimer: This information is for illustration purposes, no warranty is given that it is free from error or omission, and Sarkar Office®
cannot be held liable for any decision made based on this information only!](https://image.slidesharecdn.com/jp-subsidiary-co-closing0321-210331084814/85/Closing-a-Company-in-Japan-Dissolution-and-Liquidation-of-Japanese-Co-KK-GK-Procedure-Flowchart-1-320.jpg)
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Closing a Company in Japan. Dissolution and Liquidation of Japanese Co., KK GK Procedure & Flowchart
- 1. "Since 1993" "One Stop Solution" for Business & Administrative requirements pre-entry & post-entry level support [Page 1 of 1] sarkaroffice.com Closure of Japanese companies Dissolution and liquidation of a subsidiary co. / Japanese Co. (KK, GK, YK) The following procedures must be completed when dissolving/liquidating a subsidiary/Japanese company. Creditors of the company must be given notice for a period of not less than two months before the liquidation to submit objections (if any) for the liquidation of the company. In case the company has negative net assets, the company cannot independently complete the usual liquidation procedures rather must follow special liquidation procedures under the direction of a court. Basic Flow of procedures for dissolving/liquidating a subsidiary Japanese co. (Kabushiki-Kaisha (joint-stock corporation) / Godo-Kaisha (LLC)) / YK - Approx Time frame Resolution at the general meeting of shareholders or equivalent on the dissolution of the company and the appointment of a liquidator. ¯ Application to the Legal Affairs Bureau for “Registration of the dissolution” of the company and the appointment of a liquidator - (2~4 weeks) ¯ Notification to tax authorities of the dissolution of the company and the appointment of a liquidator. (1~3 weeks) ¯ Call for creditors re objections (if any) for liquidation of the company, on an individual basis and also through an official notice in the official gazette (mandatory), and to attend claims (if any) ¯ Preparation of a balance sheet and inventory of property at dissolution ¯ Approval by a general meeting of shareholders or equivalent of the above balance sheet and inventory of property (notification delivered to members in the case of a limited liability company). ¯ Ascertainment and distribution of residual assets. ¯ Resolution approving the conclusion of liquidation at the general meeting of shareholders or equivalent (only after the stipulated mandatory period of individual notice and an official notice in the official gazette is over & no claim and or after settlement) ¯ Application for registration of the completion of liquidation of the company with the Legal Affairs Bureau for registration of the closure (1~2 week) ¯ Obtaining the Company Closure Registration Certificate from the Legal Affairs Bureau (approx. within 2 weeks after application for registration) ¯ Final accounts, BSPL need to be prepared, and all taxes (in case of any dues and mandatory Inhabitant tax payment) need to be paid to close the company and submit the final return. Closing company’s all corporate bank accounts. Final Notification of completion of liquidation and Company Closure to tax authorities, etc. (2~4 weeks) Completion of Registration of “Closing” of a Subsidiary Japanese Company Disclaimer: This information is for illustration purposes, no warranty is given that it is free from error or omission, and Sarkar Office® cannot be held liable for any decision made based on this information only!