Simplified Limited Liability Company

Marko Andonov – University American College Skopje, Boulevard III Makedonska Brigada 60, 1000, Skopje, Republic of North Macedonia

Ljubomir Radenkov – University American College Skopje, Boulevard III Makedonska Brigada 60, 1000, Skopje, Republic of North Macedonia

Dzena Anastasova – University American College Skopje, Boulevard III Makedonska Brigada 60, 1000, Skopje, Republic of North Macedonia

Abstract: Of all forms of trade companies, the limited liability company is the most common, both domestically and in the rest of the world. Such “pop­ularity” stems from several factors, which are important for “young” entre­preneurs and individuals who lack the capital to establish another form of trade company. Those factors, or circumstances, are the relatively low min­imum basic capital, the limited liability of the founders and shareholders in terms of the responsibilities and obligations the company has towards third parties, the relatively simple establishment process, as well as the simple or­ganizational structure of the company. With the Amending Law of the Law on Trade Companies, published in the Official Gazette of North Macedo­nia no. 215/2021 of 16.09.2021, the legislator incorporates a so-called “sub-form” of the LLC – the Simplified Limited Liability Company (in continuation: SLLC). With this incorporation, the legislator intends to give additional relief to founders by minimizing the minimum basic capital from at least 5.000 EUR to at least 1 EUR expressed in denar counter value calculated according to the average exchange rate which is published by the National Bank of the Republic of North Macedonia.

LIMEN Conference

9th International Scientific-Business Conference – LIMEN 2023 – Leadership, Innovation, Management and Economics: Integrated Politics of Research – CONFERENCE PROCEEDINGS, Hybrid (Graz University of Technology, Graz, Austria), December 7, 2023

LIMEN Conference Proceedings published by the Association of Economists and Managers of the Balkans, Belgrade, Serbia

LIMEN Conference 2023 Conference Proceedings: ISBN 978-86-80194-78-3, ISSN 2683-6149, DOI: https://doi.org/10.31410/LIMEN.2023

Creative Commons Non Commercial CC BY-NC: This article is distributed under the terms of the Creative Commons Attribution-Non-Commercial 4.0 License (https://creativecommons.org/licenses/by-nc/4.0/) which permits non-commercial use, reproduction and distribution of the work without further permission. 

References

“Official Gazette of the Republic of Macedonia” no. 28/2004 … “Official Gazette of the Re­public of North Macedonia” no. 99/2022. Article 166, paragraph 1 of the Law on Trade Companies

“Official Gazette of the Republic of Macedonia” no. 28/2004 … “Official Gazette of the Re­public of North Macedonia” no. 99/2022. Article 172-a, paragraph 3 of the Law on Trade Companies

“Official Gazette of the Republic of Macedonia” no. 28/2004 … “Official Gazette of the Repub­lic of North Macedonia” no. 99/2022. Law on Trade Companies.

“Official Gazette of the Republic of North Macedonia” no. 215/21. Amending Law of the Law on Trade Companies.

Official Newspaper of the Grand Duchy of Luxembourg. Law 6777 of July 23. 2016. https://le­gilux.public.lu/eli/etat/leg/loi/2016/07/23/n20/jo 

Simplified Limited Liability Company (SARL-S). (n,d,). https://guichet.public.lu/en/entreprises/creation-developpement/forme-juridique/societe-capitaux/sarl-s.html  

Additional reading

Benefatto, M. (2017). The Simplified Limited Liability Companies – Point by Point. https://www.fiduciaire-lpg.lu/en/publications/corporate-law/simplified-limited-liability-companies 

Luxembourg Business Registers. Brochure Relating to the Simplified Limited Liability Com­pany (SARL-S). https://www.lbr.lu/mjrcs/jsp/webapp/static/mjrcs/fr/mjrcs/pdf/Brochure_SARLS.pdf  

Steltzer, D. (2020). The Advantages and Disadvantages of the Mini-GmbH. https://q-found.de/en/blog/the-advantages-and-disadvantages-of-the-mini-gmbh-also-known-asthe-ug-small-gmbh-or-1-euro-gmbh/   

Tolušić, E. (2012). Jednostavno društvo s ograničenom odgovornošću. Zbornik radova Međi­murskog veleučilišta u Čakovcu, 3(2): Čakovec, Hrvatska. https://hrcak.srce.hr/95843