A limited company (KO) is a certain business organization with two partners:
- full participants (those who work on behalf of the organization and are responsible with their material property in fulfilling the obligations of a limited company);
- who does not participate in the activities of a limited company (responsible only for obligations within the limits of the contribution).
Such an organization must consist of at least two partners. In addition, full members are prohibited from being such in other partnerships.
The community name must match one of 2 options:
- The names of the full partners plus the phrase “limited partnership / society”.
- The name of one full partner, to which is added “and company”, “limited company”.
Full members of a limited partnership are the person responsible for material contributions. The share of one investor should not be more than 50% of the entire property of the organization specified in the documents. Full members must pay their share within one year.
An organization is considered valid with at least 1 full partner (if he is alone, then he conducts business himself, and contributors should not interfere with this).
If there are no full members left, it is no longer a limited company, since such an organization does not comply with the requirements of the law. If the contributors have dropped out, the organization can be considered a complete society.
Limited company registration
The procedure for registering a limited company is no different from the registration of other legal entities, but taking into account some peculiarities. The design of a limited company is divided into the following stages:
- Preparation (this includes the decision to create an organization, the formalization of this decision in writing).
- Registration (filing an application for registration, the registration process itself, including an entry in the register).
- Registration with the authorities (Fiscal Service, Statistics, Pension Fund).
List of documents
To formalize a limited company, it is necessary to draw up an agreement in which the following conditions are spelled out:
- the amount that each full participant must pay, the schedule for the payment of this amount;
- responsibilities and capabilities of each full participant;
- the total amount of contributions to the ownership of a limited company.
The authorized person must submit the following documents for the registration of a limited company;
- statement;
- identity document;
- power of attorney.
Terms of company registration
From the moment of submission of the relevant documents, the period for state registration of the organization is within 24 hours. The term of registration of a limited company in Ukraine is up to 5 working days.
In order to complete the procedure for registering a limited company without consequences, it is better to contact the specialists of Eternity Law International. The company will not only determine the advantages of a limited company in a particular case. But it will also help to quickly register it.