Eternity Law International News Registration of Additional Liability Company

Registration of Additional Liability Company

Published:
January 26, 2020

The companies with additional liability are formed in the event of a combination of equity capital by the founders, the number of which is limited.

A distinctive feature of such an enterprise is the subsidiary liability of the founders of the ALC for the approved obligations of the established enterprise. Its size is clearly fixed by statutory documents and is proportionally distributed depending on the contributions of the founders to the general fund, which may consist of monetary resources, real estate objects.

The company’s own property is a guarantee of the fulfillment of the obligations assumed by the company. In crisis situations, the ALC alienates property in favor of the lender. When situations arise when the company’s fund is not enough to pay off debts to investors, the founders of the company are forced to compensate the arising debts in proportion to the contribution of each participant.

COMPANY REGISTRATION PROCEDURE

Ukrainian legislation contains a general rule for the registration of ALCs and legal entities. It is worth considering only the differences in filling out some types of forms. The registration process consists of six stages.

  1. making a decision on the creation of an ALC, which is recorded in a written document;
  2. signing of the memorandum of association;
  3. submission of documents;
  4. making an entry in the register;
  5. entry into the list of taxpayers in the taxation service, registration with statistical offices, PF.

List of documents for registration

To register a company with additional responsibilities, you need to collect a package of documents, which consists of:

  • an application from a person who has the authority to conduct the registration procedure;
  • the trustee must provide an identity document and a power of attorney for the operation.

Terms of the registration procedure

Eternity Law International will provide assistance in registering an additional liability company within 1-5 business days.

We offer to quickly draw up the documentation and carry out the procedure. Additionally, it may take time to obtain a VAT number. In addition, we assist in obtaining a residence permit in Ukraine, we issue an invitation to enter our territory and accounting services.

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