An important article of sample minutes, the constitution and explanation of the limited liability company As a business business model, we will cover topics such as: what is it?, how is it constituted?and the responsibility of partners in an LTDA.
What is a limited liability company? ✓
A limited liability company or limited partnership is a business model that limits partner liabilitymeans that the partners of a limited company are not responsible for debts incurred by the company.
When the limited company incurs debts, the company must respond with the acquired assets or the capital incorporated in the company, without affecting the individual assets of the partners.
Examples of Limited Liability Companies
e-commerce stores: This can be incorporated as a limited company.A restaurant: even being a single person, the owner can establish it as a limited company.a franchise: here the participation of several business partners could be constituted as limited liability and create a company.real estate: a real estate company can also be a magnificent example of a Limited Company. Although it could also be a Limited Company, a company that sells or promotes homes may be better suited to the LTDA model.The beauty: a salon, agency, boutique or make-up company can become the anonymous responsibility of one or more partners.
Main characteristics of the limited company
A limited company does not have a minimum or maximum number of partners. The partners of the company can be natural or legal persons. It does not affect the personal assets of the partners, only the assets contributed by a limited liability company are responsible. It establishes a minimum amount contribution by partners The domicile of the LTDA company must be established in the country.
Advantages of LTDA liability companies
It does not affect the capital of the partnersthey only respond with the capital contributed. incorporation procedures are less compared to other business models partners’ capital in an LTDA it can be done in money or species It has some tax benefitsIncorporating a company as a limited company provides the opportunity to access easy credits.
How are limited companies formed? ✓
Search for the name of the company, be careful with the namesakes. On the website of the Chamber of Commerce you can analyze the name of your company. Register the company with the constitution model of a limited liability company. Open a bank account in the name of the company Drafting of the statutes
If you do not have clarity to prepare each of the incorporation procedures, you can go directly to the chamber of commerce to request free advice.
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Example of minutes for the constitution of the limited liability company
…….. appeared… and…, all of legal age, residents of…, identified with citizenship cards We… issued in…, issued in… and… issued in… respectively, able to contract and be bound, and stated: That Through this document they constitute a company that will be governed by the following clauses.
First: The company will have limited liability and will rotate under the company name
Second: Headquarters of the limited company
The company’s main domicile will be the city of…, but it may open branches in any part of the country or the world.
Third: Corporate purpose of the company
The company shall have as its corporate purpose the…
Fourth: The initial capital of the company
The capital of the company will be the sum of… ($…..), …. represented in… amount of social contributions (…) of nominal value of one thousand pesos each, which has been fully paid by the partners upon having acquired it as follows:
PartnersContributionsSocial Fees% TOTAL
Contributions fully paid in cash.
Fifth: The administration of the limited liability company
The management and administration of the company will be in charge of the Board of Partners and the Manager. The board of partners will be made up of the partners gathered in accordance with these statutes and the law, and will have the following functions:
to) Study and approve the reforms of these statutes respecting the majorities agreed in this document.
b) Examine, approve or disapprove the balance sheets at the end of the financial year and the accounts that must be rendered by the administrators.
c) Confer the faculties and stipulate the limitations or amplitudes between which the administrators will act.
d) Dispose of profits in accordance with what was agreed in the social contract. e) Elect the administrators and officials of the company that are not selected by the Manager, fix the respective assignments, remove them respecting the present statutes.
The minutes of incorporation of a limited liability company continue in the example in Word
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Characteristics of the example of incorporation of a limited company
Word FormatYESPDF FormatYESExcel FormatNoDocument TypeMinuteClausesYesYear Last Version2023Download FreeYES