Legal forms of business companies.
- Joint stock companies
- Limited liability company (up to 50 founders)
- Limited partnership company
- Partnership company (two or more owners)
Joint stock company
A joint stock company is a business company founded by one or several legal and/or physical entities in the capacity of shareholders for the purpose of performing certain activity, under joint business name. The stock of capital of a joint stock company is determined and divided into shares. As far as liability is concerned, a joint stock company is liable for its obligations with ists entire property.
The shareholders of a joint-stock company are not liable for company liabilities, except for their liability being limited to the amount of contracted but unpaid share capital (pursuant to the Law on Business Companies).
Limited liability company
As far as company establishment is concerned, the most frequent form in pratice is the establishment of companies with limited liability. This form means business companies established by one or several legal or physical entities (maximum 50). Stakes in such companies may be pecuniary or non-pecuniary. The pecuniary part of the stock of capital on payment date amount to at least EUR 500 in dinar countervalue, of which at least a half is paid onto a temporary company account until registration of the company, and the remainder within 2 years from the date of registration.
A limited liability company is liable with its entire property. The limitation of liability of its members is to the amounf left unpaid on its shares.
Limited partnership company
The provisions of the Law on Business Companies apply to limited partnership companies , unless otherwise defined by the subject law.
The fully liable partners have a status of partners in a partnership company, unless otherwise defined by the law on Business Companies.
Partnership company (two or more owners)
A partnership company in the sense of the Law on Business Companies is a business company established by two or more physical and/or legal entities in the capacity of partners in the company for the purpose of performing a certain activity under joint business name.
A partnership company is liable with its entire property. Partners in a partnership company are solidarily liable for all company obligations with their entire property, unless agreed otherwise with creditors.