Individual enterprise is a private legal entity of the unlimited civil liability the owner of which receives the entire profit of the company.
Price for incorporation – € 299.
When establishing the individual enterprise with the English name € +150.
We will establish the individual enterprise within 5-6 business days.
Individual enterprise is a private legal entity. If compared to the small cooperative, public limited liability company, and private limited liability company, it can be distinguished by the fact that the individual enterprise has unlimited civil liability.
The owner of an individual enterprise is liable to the creditors and third parties with all of the personal assets, and not only with the assets owned by the company. For this reason, there are no requirements for the assets of the individual enterprise which may be either material or non-material.
An individual enterprise can only have one participant – the owner who adopts all the decisions. In such a case, when the owner is also the manager, employment relationships are not concluded with him and only a natural person who is not the owner of another company may be the manager.
Because there is only one member, he receives all the profit; therefore, there is no profit distribution system.
An individual enterprise can be restructured into the small cooperative, private limited liability company, public limited liability company, and public enterprise.
This type of legal entity is favourable when engaging in a risk-free business.
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