Not every entrepreneur wants to have partners when he creates a company. The EURL is a good option when you want to be the sole manager. However, there are a minimum of details to know when opting for this legal form of company. Moreover, it is advisable to call on a professional in order to know all the procedures.
What do I need to know about an EURL?
The EURL or limited liability company is a legal form of commercial company among many others. It is like a SARL, but with only one partner. This partner owns the entire budget invested in the company. An EURL must have a share capital as well as well-drafted articles of association to organize its operations. A manager must also be appointed to legally represent the company. In terms of administrative procedures, it is obvious that a registration with the RCS must also be done. As for most commercial companies, an online EURL creation is possible. Many platforms offer this service. Simply go to a search engine and type “create EURL online”. The steps to follow will be explained by the site concerned.
The EURL is often considered as having all the properties of a SARL, with the only difference that there is only one partner. However, it is important to be aware of certain characteristics of this legal form of business entity. First of all, it is important to remember that there is only one partner (natural or legal person), the minimum capital is imposed (contribution in cash and in kind). Also, all activities are possible, except in a particular case expressly stipulated by the law. Then, the manager of the company can be the partner himself or an employee. The management power is divided between the manager and the partner. The sole managing partner must be affiliated to the social security system. The constitution of the company is formalized by a publication in a legal newspaper and a declaration of creation. Finally, the taxation method is the IS or corporate tax.
Why do I need a professional?
When you want to start a new business, no matter what form it takes, it is always recommended to call on a professional. Unless you are an expert yourself and already have a well constituted team, it is preferable to entrust the task to a professional firm. This way, you can ensure the reliability of your business plan and the development of your company. To be assisted by an expert in business management confers, indeed, many advantages. It is the best way to ensure the sustainability of the company.
Even if we understand the general functioning of an EURL, we must not forget the small details. For example, the partner is not supposed to know that within the framework of an EURL, it is possible to have other partners if desired. In order to do so, there are steps to follow as well as certain modifications to be made. For example, the power is shared between the manager and the partner, but it is important to know who has the final say on the decisions. In the case of a managing partner, there is only one decision maker.