NOW UNLIMITED. ONE PERSON RIGHT TO ESTABLISH AN UNLIMITED NUMBER OF ENTERPRISES

 What does it mean? In fact, a person may be a party to an unlimited number of LLCs that have one party. During the period of validity of the Law of Ukraine "On Business Societies" and when the articles of the Civil Code of Ukraine governing the principles of creation and activity of limited liability companies were in force, there was a legal restriction that one person may be sole founder of only one company, in particular, this was stated in Part 2 of Art. 141 CCU.

 Since the Law on Limited Liability and Supplementary Liability Companies entered into force in June 2018, this provision has been leveled and has not been enshrined in the new law. This allows you to register the desired number of LLCs or other companies for one person.

 In addition, the new law does not contain rules that state that an LLC may not have as a sole participant another business entity of which one person is a party. In this way, the legislator “unbinds the business” and allows the creation of an unlimited number of related businesses for the sole proprietorship.

 Due to the fact that LLC was one of the most popular legal forms for doing business, the new law with clear regulation and new opportunities will cause an influx of applicants to the registrars. Now it is even more comfortable to do business with the help of LLC.

 If you want to register, change or carry out other activities with your company - please contact Prykhodko & Partners Law Firm. A team of professionals will help you with any legal difficulties in your business.