Registration of an Additional-Liability Company

One of the existing legal forms of enterprises is an additional-liability company. ALC cannot be considered the most popular choice among entrepreneurs, however, this form of ownership has its own particular advantages.

You probably know about them if you have decided to register an ALC. However, in addition to this, you should remember the requirements that are imposed during the registration of such a legal entity.

The ALC: main features

During the creation of an additional-liability company, the authorized capital of an enterprise should be divided into shares. A size of each share is prescribed in constituent documents.

It is important to understand that participants in such a company bear additional responsibility for the obligations of the whole company. If one of the participants declares himself bankrupt or does not have enough funds (property) to secure his share of the additional liability, his liability will be shared among other participants. In this case, the shares of responsibility should be distributed taking into account the contribution size of participants.

The amount of subsidiary (additional) liability should be at least 50 basic value.

One of the features of the creation of the ALC is the fact that there are no requirements for the minimum size of the authorized capital.

Stages of the ALC registration:

·         To make a decision on the creation of ALC;

·         To agree upon the name of the future legal entity;

·         To determine the place of registration of the company (the location of the ALC cannot be residential);

·         To develop a charter;

·         To hold a meeting of the founders and agree upon the text of the charter;

·         To submit the documents to the registration authority (application, copies of the charter, receipt of payment of state fees);

·         To make the registration at the Social Protection Fund, Belgosstrakh, and also with tax authorities;

·         To make a decision on the appointment of the director and chief accountant of the enterprise;

·         To order a seal;

·         To open a bank account (it is possible only after receiving a seal).

Why is it better to get help from specialists for an ALC registration?

Is it possible to register ALC on my own? Yes it is possible. But at the same time you should be clearly aware of the risks. Unfortunately, if you have never registered a legal entity before, the process of creation of your own company can be significantly delayed.

Our lawyers will be able to assist you in all matters related to the registration of your business: from drafting the text of the charter to submitting documents to the registering authority and opening a bank account. In addition, we offer you legal support services. This means that we can stay in touch to keep you calm for observing all the rules at all the stages of the development of your business.

Do you want to get a consultation? Then leave a request on our website or contact us by the indicated numbers.