GUIDE PROCEDURE FOR CONVERTING HOUSEHOLD BUSINESS INTO ENTERPRISE


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Many headlines around the spring as in 2017 told about start-up stories, which the Prime Minister encourage small household business to elevate it up to enterprise.

Guide you to the necessary procedures for the conversion of the household business into enterprise based on current legal enterprise provisions:

Step 1: You must complete the procedures to terminate the activities of business households

You need to pay in full all debts, including tax debts and other financial obligations unfulfilled.
Then you need to prepare the following documents:
- Notice of termination of activity (form attached file)
- The original certificate of business registration.

Filed in: Business Registration Office at district level - where you have done registration procedure.
  
Step 2: Carry out the registration procedures establishing new enterprise.

 Depending on the scale of production, sales and partners, you should decide which type of your enterprise:

- Sole proprietorship

- Sole-member limited company

- Multi-member limited company

- Joint stock company

- Partnership

After registration you need to establish additional tax declaration procedures, fees and charges in such activities.

The procedures for this conversion has not been deemed to have reformed, because the entrepreneurs need to go through two steps, terminate the operation of the business household registration and establishment of new enterprises, new complete the procedure.

Therefore in my opinion, to promote further, this procedure should lean towards the upgrade from household business to enterprise by submitting only some necessary papers. What do you think about this issue?

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