Restructuring of an individual undertaking, a farm or a fishing undertaking into a LLC (SIA), Stage 1
The individual company, as well as the farm of farmers or fishermen, has the right to transform the company into a limited company. The reorganisation shall be carried out in two stages. The owner shall draw up a draft decision on the reorganisation and a draft of the articles of association of the limited company.
If the draft reorganisation agreement has been submitted to the Enterprise Register and is attached to the company registration case, but is amended - the company must re-initiate the reorganisation process by submitting the amended draft reorganisation contract to the Enterprise Register. A meeting of participants shall, not earlier than one month after the publication of the draft amended reorganisation agreement, examine the draft contract and take a decision regarding reorganisation. If the company had already issued a notice to creditors regarding the reorganisation in the official publication Latvijas Vēstnesis, the notification to creditors shall be repeated after the decision of the meeting of the members.
At the same time, it should be noted that if one of the companies involved in the reorganisation changed the name or was transformed into another type of company during the reorganisation, it should not be considered as the basis for amending the draft reorganisation agreement.
3 business daysReview
Documents to be submitted:
- Notification of reorganisation
- Draft reorganisation decision
- Draft Statute
- A receipt or a copy thereof, or a printout of an online bank payment, or information on the payment of the State fee
Time limit for the submission of documents in the Enterprise Register: 14 days from the drafting of the draft reorganisation contract