Opening of a branch of a company
15.10.2019 | 0 comments | 102 views | Categories: Procedures Filings with the Commercial Register
According to the Commerce Act every company may open a branch outside the residential area where its seat is located. The opening of a branch is carried out through its registration in the Commercial Register. Most often, companies take action to register a branch not so much for reasons of a legal nature, but rather for organizational and economic reasons – following from the specific features of the branch as a legal form for carrying out business activity.
Not only companies may open their branches – other merchants and legal entities (Sole Proprietors, cooperatives,… Read the article
Registration for carrying out employment mediation activity
17.02.2018 | 0 comments | 79 views | Categories: Procedures Licenses and Registrations
Employment mediation activity includes provision, in aggregate or separately, of mediation services for: informing and consulting the persons looking for a job and the employers; psychological assistance to the persons looking for a job; guidance on vocational training; guidance and assistance on entering into employment, including in another settlement in the country or in other countries. The mediation activity is expressed in rendering assistance to the persons looking for a job and to the employers offering employment, aimed at the conclusion of an employment contract… Read the article
Transfer of stocks
18.08.2016 | 0 comments | 149 views | Categories: Procedures Transfer of Companies
Stocks as a concept may be viewed in different aspects. They are part of the fixed capital and their total nominal value equals the one of the capital. They are also title of participation in a Joint-Stock Company (JSCo.) – as expressing the membership rights. The Commerce Act defines stocks as securities certifying that their holders participate in the capital with the face value indicated thereon. Stocks may be subject to transfer.
JSCo. can issue various types of stocks. Grouping of stocks is done on the basis of different classification criteria. The following groups… Read the article
Transformation of a company by change of the legal form
25.03.2015 | 2 comments | 120 views | Categories: Procedures Transformation of Companies
Transformation of a company by change of the legal form is a form of transformation. A company participating in such transformation (transforming company) changes its legal form, thus converting into a company of another type (newly-established company) – very often General Partnerships transform into Limited Liability Companies (LLC)1 or LLCs transform into Joint-Stock Companies (JSCo.) and vice versa.
The newly-established company becomes legal successor of the transforming company which is terminated without liquidation (which is otherwise needed upon… Read the article
Transformation of companies by take-over (merger through absorption)
17.02.2014 | 2 comments | 93 views | Categories: Procedures Transformation of Companies
Take-over (also referred to as merger through absorption) is a form of transformation. Companies participating in such transformation may be of different types – most often Limited Liability Companies (LLC) and Joint-Stock Companies (JSCo.).
Upon take-over the entire property of one or more companies (transforming companies) is transferred over to one existing company (receiving company) which then becomes their legal successor (universal succession). The transforming companies are terminated without liquidation (which is… Read the article
Publication of annual financial statements
22.01.2014 | 2 comments | 99 views | Categories: Procedures Filings with the Commercial Register
Pursuant to Art. 53, par. 3 of the Commerce Act companies are required to summarize the results of their business based on their bookkeeping and inventory records by preparing annual financial statements (AFS). The financial statements must give a true and fair picture of the property and the financial status and performance of the enterprise, its cash flows and equity.
Every enterprise is put by the Accountancy Act under the obligation to prepare AFS as of December 31 of each calendar year. The annual financial statements need… Read the article