The partners of a Limited Liability Company must determine the period during which they want to start their business. This date marks the planned end of life, knowing that the duration can be extended under certain conditions. Here are the rules for determine the duration of an LLC.
La period of validity of an LLC determine the time for which the company is founded. This gives an indication of when it will end. The start date of the validity period of any company is recorded in the Trade and Companies Register (RCS).
Once this period is over, the partners must meet to decide if they want extend its duration. They can also decide to shut it down and dissolve their company. Indeed, the non-renewal of the term is the main reason for the dissolution of an LLC.
La period is one of the elements that absolutely must be included in the statutes of an LLC (as well as for all commercial companies). It cannot exceed 99 years. It is impossible to provide for an unlimited duration, the wording of such a clause being deemed unwritten and therefore without legal effect. However, this limit is renewable for the same period. If the provisions of the articles of association do not mention the duration, any interested person may request that it be established by a judge.
La duration of an LLC is not necessarily fixed in number of years. It is possible to provide for the termination of the company at a precise date or following the occurrence of a event defined in the statutes (provided that the phenomenon is possible and within a reasonable time).
In the presence of a long period, it is possible to establish intervals during which the associates can request the dissolution of the LLC.
Commercial companies must be registered in the trade and companies register. On the occasion of the creation of an LLC, a certain number of documents must be filed with the business formalities center or at the registry of the commercial court. Some of the information they contain is registered in this register; and the validity is part of.
Thus, the validity will be visible on the Kbis extract of the SARL, just like the the head office, denomination or the but.
When the period initially planned comes to an end, the partners must make a decision as to a possible extension. If they choose not to continue operating, the company will be dissolved and liquidated. If, on the other hand, they wish to continue their activity, they must modify the articles of association of the LLC respecting a method specific :
