Establishment documents required from various forms of business

 Private entrepreneur

Start-up notification: Y3

Establishment documents:

  • No other documents needed for setting up a business

Private entrepreneurs work on their own, which means that no establishment documents are required.

 

 

General partnership
Limited partnership

 

 

Start-up notification: Y2

Establishment documents:

  • Partnership agreement of general partnership
  • Partnership agreement of a limited partnership

A partnership agreement is drawn up for a general partnership and limited partnership at the start-up stage.
This should be made in writing. The contents are determined on a case-by-case basis, depending on the company’s line of business and scope of operations. Registration of the company in the trade register requires that certain basic matters (business name, domicile, line of business, partners, etc.) are defined.

In addition, other matters – such as the division of responsibilities between partners and their investments, the Managing Director, the accounting period, the distribution of profits and losses, and the terms of dissolution or continuation of the partnership – should be settled in the agreement.

 

Limited liability company

 

 

Establishment documents; Y1 + appendix 1

Establishment documents:

  • Memorandum of Association
  • Articles of Association

When establishing a limited liability company, a written Memorandum of Association must be drawn up, along with Articles of Association (as part of the Memorandum of Association or as an attachment). In addition, share subscriptions must be made (shareholders subscribe for their shares in the Memorandum of Association by signing the document).

Once these documents have been prepared, the sum paid for the shares must be in the company’s possession on its bank account before the limited liability company can be entered in the Trade Register.

A legal limited liability company is only established as a legal entity after registration.

Filled-in examples of all documents required for establishing and registering a limited liability company. Suitable for limited liability companies for which conventional Articles of Association are sufficient, and whose shares will be paid in money with the entire subscription price allocated into the share capital.

 

Cooperative

 

The parties establishing a cooperative must draw up the rules of the cooperative, incorporation instrument (dated and signed), minutes of the Board of Directors meeting on the election of Chairperson of the Board and Managing Director (attached to the start-up notification).

Preparation and contents of cooperative rules and the incorporation instrument are regulated by the Cooperatives Act. However, a cooperative is not established as a legal entity when these documents are prepared, but only upon the company’s entry in the Trade Register.

 

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