The sole partner of a Single member limited liability company must select a period for his firm. It determines a possible completion date, knowing that it can be extended. Below are all the applicable rules in terms of definition of the duration of an EURL.
La life period of an EURL indicates the end of the operation of the company. This begins from the moment of registration in the Trade and Companies Register (RCS). At the end of this period and, unless an extension is decided (see below), the company is liquidated. The period is, in fact, one of the reasons for liquidation of an EURL.
La period of validity is provided for in the statutes of an EURL. It must not exceed 99 years. Any clause going to the opposite inserted in the articles of association will be considered null and void. Renewals are still permitted, subject to the same limits.
La duration of an EURL can be set differently: by a number of years, on a specific date or on the occurrence of a specific event (if its realization is feasible and the deadline is not too far away). It is even possible to determine a duration of 99 years with internal periods during which the sole shareholder can decide to dissolve the company.
In the absence of a clause in the articles of association, any interested person may take legal action to demand that the duration be specified.
The lifetime of an EURL is one of the attributes to be indicated on the Trade and Companies Register (RCS), at the same time as the the head office, corporate name (Intergovernmental Panel on Climate Change) and the social object. This information will be visible on the Kbis extract of the EURL.
In the event of creation, a specific file must be sent to the registry of the commercial court or to the competent business formalities centre. Additional documents will also be necessary (in particular the M0 form and various acts).
When the time allotted to the company comes to an end, the sole proprietor must decide whether or not he is in favor of an extension. of the EURL. If the rejection is formulated, the company will be dissolved and liquidated. Conversely, a modification of the statutes of the EURL is necessary. Here are the steps to follow:
