Converting a sole proprietorship into a multi-member limited liability company

A. PROFILE COMPOSITION.

  1. Application form for enterprise registration (Appendix I-3).
  2. Company’s charter.
  3. List of members of the multi-member limited liability company (Appendix I-6)
  4. Copies of the following documents:

a) Legal documents of the enterprise’s legal representative;

b) Legal documents of members; legal documents of the authorized representatives of members, and their letters of appointment.

For members being foreign organizations, copies of their legal documents shall be consular legalized;

  1. Written commitment made by sole proprietorship’s owner to be personally liable for all unpaid debts and paying them when they are due with all of his/her assets.
  2. Written agreement made between the sole proprietor and the contracting parties that the new company will take over and continue performing those contracts which are not completed yet.
  3. The sole proprietor’s written commitment or agreement with other capital-contributing members to continue hiring the existing employees of the sole proprietorship.
  4. Contract for transfer of capital or documents proving completion of such transfer; or contract for donation of capital; or copy of certificate of the heir’s lawful inheritance rights.
  5. Written approval given by the investment registration authority in case the capital contribution or purchase of stakes shall be registered in accordance with the Law on Investment.
  6. Power of attorney.
  • Quantity: 01 set.

B. SEQUENCE.

Within 03 working days from the receipt of application, the business registration authority shall consider issuing the Enterprise Registration Certificate.

Please follow the link to get the procedure for REGISTRATION OF ESTABLISHMENT OF A MULTI-MEMBER LIMITED LIABILITY COMPANY

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