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Change a Sole Trader into LLC in Slovenia

Change a Sole Trader into LLC in Slovenia

The Slovenian legislation allows investors to change a sole trader into a limited liability company (LLC), as this can be required to due to certain events. A sole trader in Slovenia is the simplest form of starting a business in this country, and one of its particularities is given by the fact that there is no legal distinction between the company and the investor and, as the business develops, this could become a disadvantage. Our team of consultants in company registration in Slovenia can provide advice on the main procedures that are involved in this particular case. 

Procedures for changing the sole trader into a Slovenian LLC 

There is no straightforward procedure to change the sole trader into a LLC in Slovenia. In order to change the legal entity, it is necessary to dissolve the current business form – represented by the sole trader, and then apply for opening a LLC. In order to do so, the following steps have to be concluded:

  • • the person representing the sole trader has to give a three months’ notice to any creditors or business partners regarding the dissolution of the company;
  • • with 15 days prior to the intended date of closing the sole trader, the investor has to file a request with the Business Register of Slovenia, which will delete the company from its registers;
  • • it is also necessary to provide a tax assessment to the Tax Administration of Slovenia;
  • • the investor must also deregister from the insurance system in a period 8 days after the Business Register of Slovenia deleted the company

Why start a LLC in Slovenia?  

The LLC is the most common business form chosen for registration and our team of specialists in company formation in Slovenia can offer in-depth advice on its advantages. This type of company allows any foreign national to start a business here and one of the main advantages of operating through a LLC is given by the fact that the investors are liable for the company’s debts only in the amount of the capital they have contributed to the business.  

Foreign businessmen are invited to contact our team of consultants for more details regarding this subject. Our representatives can offer a presentation of the documents that are required for this procedure and can advise on the suitable moment when a sole trader should be changed into a LLC