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Sole proprietorship

If you establish a business without any partners or shareholders, you have a sole proprietorship. Whether you must enter the business in the Commercial Register depends on whether you are a merchant or a small trader. Speak to your professional association for information.

Advantages

No minimum capital required. Complete independence of the entrepreneur, sole responsibility for management, no sharing of profits, simple establishment, low formation expenses.

Disadvantages

Liable to the full extent of the companies assets and personal fortune.

If you establish a business without any partners or shareholders, you have a sole proprietorship. Whether you must enter the business in the Commercial Register depends on whether you are a merchant or a small trader. Speak to your professional association for information.

Advantages

No minimum capital required. Complete independence of the entrepreneur, sole responsibility for management, no sharing of profits, simple establishment, low formation expenses.

Disadvantages

Liable to the full extent of the companies assets and personal fortune.