⬊One of the possible and very common changes in the circumstances of limited liability companies is related to the release of a person from his capacity as a manager and the election of a new one. Only an individual person can be a manager⬋
Change of manager of LLC
Most often, the manager of a LLC is also the sole owner of the company capital. In the event that the person who owns the capital wishes to waive his authority, he may want to choose another person who does not actually own company capital, but who will assume the functions of management and representation of the company. Under these conditions, one person owns the company capital and another manages and represents the company.
Required documents and deadlines:
The decision to change the manager is made by the owner of the capital in writing, being entered in the Commercial Register and a new founding act, with the reflected changes.
The actual entry is made in the Commercial Register at the Registration Agency in 5 working days.
Change of manager for Ltd
The change of manager of an Ltd does not differ significantly from that of an LLC.
The manager can be a person who owns shares in the company or a third independent person who does not have a share in the company.
Required documents and deadlines:
The decision to change the manager is taken by the owners of the company capital in writing, and then is submitted in the Commercial Register and a new partnership agreement, with the reflected changes.
The actual entry is made in the Commercial Register at the Registration Agency in 5 working days.
The information presented above may have convinced you that the main point of the procedure for changing the manager is the proper preparation of the documents reflecting this change.
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