As an entrepreneur, you probably know better than anyone how to turn the next step planned into a commercial success. Often, the next step will be accompanied by an expansion of business activities. What people do not always realise is that an expansion often means an increase in risk and liability. Still, it is good to consider the situation because the debts of your sole proprietorship can be recovered from your private assets and in some cases from that of your spouse/partner as well. This risk can be limited by bringing the business activities of your sole proprietorship into a limited liability company. Converting sole proprietorships into private companies is one of the topics you can discuss with us. We can design a corporate form when you are considering taking the next step in your company. By not only looking at the company but also at your personal situation, we can optimise our service and provide you with sound legal advice. So, taking the next step is an opportunity to review the legal structure of your company (and your personal situation) with our (junior) solicitors.
Among other things, we can include counselling and guidance with::
- converting your sole proprietorship into a limited liability company and subsequent (tax) consequences;
- recording collaborations with other entrepreneurs in a shareholder’s agreement;
- drafting funding agreements and documentation;
- synchronising the legal aspects of your personal and professional life legally by making or changing a prenuptial agreement;
- planning your business succession now or in the future.
Examples of recent questions to (junior) solicitors at De Haan:
- I want to convert my sole proprietorship into a limited liability company. How does it work and are there any tax implications?
- Upon converting into a limited liability company, am I obliged to place all of the assets of my sole proprietorship in the limited liability company?
- I'm getting married/starting a registered partnership and I own a sole proprietorship or limited liability company. Are there things I’d better arrange in advance?
- One of my children wants to take over my company. How can this be designed (fiscally and as cheaply as possible)?