The amendments approved by the Government to a number of legal acts halve the term for voluntarily liquidating a business. The initiative was put forward by the Ministry of Economy and is to be adopted by Parliament, IPN reports.

Currently, the creation and registration of a legal entity at the State Registration Chamber take at most five days. But the liquidation procedure lasts for about 12 months.

For the procedure to be simplified, it was suggested reducing the term for claiming money from the company that is under liquidation from 6 to 2 months of the publication of the announcement in the Official Gazette. The term for distributing the assets may be decreased to one month of the approval of the liquidation balance.

The bill also contains a number of technical editorial adjustments. About 20,000 companies were founded in Moldova over the last three years. A number of 10,000 businesses were liquidated.